Since the parabolic rally of Bitcoin in 2017 has unwound itself, investors have sought to predict future market predictions through rational analysis, rather than dreams of Lamborghinis and wads of cash.
In a bid to do just that, many traders have begun to weigh historical trends against those seen today, determining that there’s a possibility that Bitcoin (BTC) and the rest of the cryptocurrency market is ready to step into spring.
Bitcoin May Have Finally Bottomed
Under the Rhythm Trader handle, prominent trader Alec Ziupsnys and his team recently drew attention to the eerie lines that can be drawn between 2014 to 2016’s market cycle and the one seen today.
Ziupsnys, who has risen to prominence for incessantly touting the merits of Bitcoin over centralized financial institutions, noted that if BTC truly follows a multi-year cycle of boom and busts, there’s a likelihood that the cryptocurrency has already bottomed.
History doesn't repeat itself but it often rhymes.$BTC in 2014…
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