Bitcoin reflects 2020: What will happen?

According to an analysis, Bitcoin (BTC) is repeating the uptrend it last experienced in 2020.

The leading crypto #Bitcoin (BTC) was activated by the purchase of the crypto exchange Bakkt by the new US president Donald Trump. $BTC increased by nearly 2 percent in the last 24 hours.

BTC has to increase by 1.70 percent to reach its all-time high of $93,265. Analysts predict that this increase will occur in the near term.

According to an analysis prepared by Ali Martinez, BTC's price chart repeats the formation last observed in 2020. The analysis stated that the formation points to $100,000.

It took a few days for Bitcoin (BTC) to rise above $91,000. BTC, which has a positive outlook, may be at the beginning of a new rally.

According to AMBCrypto, $BTC may reach $100,000 earlier as it reflects the past trend.

The decline in BTC in the previous days was attributed to the sale of 3,000 BTC by miners. Analysts stated that BTC managed to hold on to $90,000 and entered the accumulation phase in this region. Overcoming the pressure from miner sales, BTC renewed confidence by reaching $91,500.

Crypto analyst Ali Martinez evaluated BTC's past performance in an analysis published on X. Martinez emphasized that BTC is following a past trend.

Martinez used the following statements; “Bitcoin rose another 26 percent after exceeding its all-time high (ATH) of $19,700 in 2020. BTC consolidated for a week after these increases and then jumped to $40,000. A quick look at today: BTC is up 28% after breaking its previous ATH and has been consolidating for the past six days. History may be repeating itself.”

According to analysts, BTC’s potential peak in the bull cycle could be $120,000. “BTC will have no trouble breaking $100,000, which is a level close to its peak,” AMBCrypto said, concluding his remarks.

“If Bitcoin manages to break above this level, it would not be surprising to see a new bull run.”