Are We Seeing A Repeat Of 2017?
Some say Bitcoin is looking just like it did circa this time in 2017 and that we may see Bitcoin’s market cap @ $11 trillion by early 2022:
Crypto Strategist Unveils Massive Price Target for Bitcoin by December, Says BTC Following 2017 Bull Cycle
An emerging crypto strategist and trader is unveiling a huge price target for Bitcoin in the coming months as he believes the crypto asset is mirroring its 2017 bull market.
The crypto analyst, TechDev, tells his 107,500 followers that the current price action of Bitcoin (BTC) looks very similar to its 2017 parabolic run when it rallied from below $4,000 to $20,000 in a couple of months.
Based on the crypto analyst’s chart, Bitcoin can skyrocket to a new all-time high above $180,000 by the end of 2021 if it continues to follow the footsteps of the 2017 bull cycle.
Looking closer at the daily chart, TechDev highlights more similarities between the two cycles in terms of price and timing. The trader says that Bitcoin appears to be reaching higher highs and higher lows at the same Fibonacci levels it maintained during its run from $1,750 to around $6,000 between July 2017 and October 2017.
“Recent BTC daily price action. Seen it all before.”