Crypto analyst Moustache has recently drawn attention to Bitcoin’s historical performance as a possible indicator of future price movements. According to Moustache, Bitcoin’s current price action bears resemblance to its behavior following significant market crashes, such as the COVID-19-induced crash of March 2020.
Moustache highlights that after the COVID-19 market crash, Bitcoin experienced a substantial rally, reaching highs of around $11,892.92.·
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