BTC has hovered between bullish and bearish attitudes. But one chart analyst sees a possible scenario, as the bitcoin price action in the past months recalls the rapid spike of BTC prices at the end of 2018.
Bitcoin Price Resembles Last Stretch of 2018
BTC went through its biggest bear market in history in 2018, losing over 84% in value between December 16, 2017, to December 15, 2018. However, after finding the bottom at around $3,120, the price began to recover and eventually returned bullish towards Q2 of 2019. The unique path that Bitcoin followed during that key time period appears to be happening again, according to two veteran traders – Josh Rager and Cantering Clark.
Granted, the chart comparison is largely speculative and points to only one of the many possible scenarios, but the correlation is nevertheless striking.