The crypto market is steadily recovering and moving in an upward pace.
Bitcoin (BTC) price chart is mirroring that of the movements in 2020.
This could mean a new ATH for Bitcoin (BTC) in the coming months.
With green signals over the last 24 hours, the crypto market seems to be recovering well and the lead comes for Bitcoin (BTC). Presently, Bitcoin (BTC) price is around $57,000 and continues to trade just above and below it. Ethereum (ETH) is also up and trading at $2,500.
Steady Market Recovery Points to Market Surge
As the market continues its steady recovery, cryptocurrency charts show the same long-term bullish signals that point to a shining crypto super cycle as many analysts predicted for Q3 and Q4 of 2024 and Q1 of 2025.
In terms of market sentiments, the Crypto Fear and Greed Index has recovered from an extreme fear rating to a fear rating of 29 points. Certainly, this is a quick improvement as the communal crypto market seems to feel an ebbing away of the FUD sentiment.
Parabolic Pump Expected Ahead for Bitcoin
Amidst the improving sentiment, crypto traders are comparing the ongoing crypto bull cycle with previous bull cycles to see where we are in the currency bull cycle and when we can expect the highly-anticipated bullish upward movement.
https://twitter.com/rektcapital/status/1820912925911007381
According to an observation made by one crypto analyst, he marks the current area of the crypto bull cycle as depicted in the Bitcoin (BTC) price chart above. He believes that we are trading at the moment right before the start of the parabolic bull cycle surge.
If his prediction plays out then we could see a new Bitcoin (BTC) all-time high (ATH) in the coming months. This could also be followed by the long-awaited altseason signaling new ATHs for many new and popular altcoins as well.
https://twitter.com/wallstreetbets/status/1820929380790464669
Similarly, another crypto trader adds to the bullish sentiment saying that the market action of the Black Swan event of 2024 is playing out exactly as the Black Swan event played out in 2020. This points to the expected arrival of a parabolic pump for Bitcoin price and the crypto market as a whole.
The post Bitcoin Price Chart Mirrors Events of Bullish 2020 Price Action, Analysts Expect New ATH for BTC Soon appeared first on Crypto News Land.
