“Historical data points to a bull run for Bitcoin”

Crypto analyst Bittel Julien expects a rally for #Bitcoin (BTC), which has fallen by 10.85 percent in the last month.

Leading cryptocurrency $BTC defied all market predictions last month. Despite crypto investors’ bullish expectations, BTC, which has been declining since August, fell to $52,000.

Bullish expectations began to decline as the Fear and Greed Index showed the “Fear” level. Crypto analyst Julien likened the declines to the 2019 cycle.

Bittel Julien, who discussed the price movements of Bitcoin (BTC) in 2019, claimed that history would repeat itself.

Underlining the current consolidation phase, Julien stated that the volume loss in question lasted 175 days. “As in the 2019 cycle, BTC is stuck in a similar consolidation phase,” said the analyst, arguing that if $BTC continues the same scenario, it will make a significant increase.

The analysis showed that BTC rose from $ 7,200 to $ 10,000 in 2020 after a long consolidation.

AMBCrypto, which supports Julien’s bullish scenario based on the historical cycle, said the following: “Market behavior shows accumulation, which indicates the investor’s confidence in potential future price gains. This is a bullish signal, and increasing accumulation results in buying pressure that pushes prices up.”

The analysis stated that long-term investors still hold #BTC despite the price declines, and that this situation gives an important signal about “belief.”