Bitcoin’s meteoric surge continues to grasp the attention of analysts and traders as it has left ‘Base 4’ of the huge cup and holder pattern. As per the crypto analyst Gert Van Lagen, leaving Base 4 signifies Bitcoin’s progress toward the steepest rise in history, outpacing former bullish trends. The analyst took to social media to reflect on the current market scenario surrounding Bitcoin.
[UPDATE] Now $BTC left Base 4, the steepest kind of ascent $BTC has ever witnessed is being witnessed. #blowofftop pic.twitter.com/nSij1yLv0y
— Gert van Lagen (@GertvanLagen) November 21, 2024
Bitcoin Gets Exponential Heights After Leaving ‘Base 4’
Gert van Lagen pointed out that, as Bitcoin has left Base 4, it is heading toward a massive bull market. The analyst added that the present trajectory of Bitcoin denotes the steepest ascent throughout its history. The “Base 4” theory of Van Lagen suggests that the top crypto asset has touched a crucial stage in terms of growth. The respective phase is marked by an increased upward path, with sheer price surges that separate from conventional growth cycles.
At present, the prominent crypto token is changing hands at nearly $97,137.84. This figure denotes a 4.97% rise over the past twenty-four hours. Apart from that, Bitcoin’s price has increased by 8.37% during this week. Additionally, the crypto token has witnessed an enormous 43.65% growth over the past month. Moreover, it has just recently touched an exclusive all-time high price spot of $97,862.
The Massive Bull Market May Result in Significant Corrections
Back on the 10th of September, Van Lagen first referred to the Base 4 theory. At that time, the analyst anticipated that leaving Base 4 would lead to Bitcoin’s latest price spikes. Currently, as Bitcoin has left Base 4, it is going exactly going through a massive upsurge. According to Gert Van Lagen, this stage often marks the conclusive and most forceful rally before a consolidation period. Thus, the analyst cautions the market members about potential corrections following the surge.
