RATE Group | This Simple Observation Suggests Bitcoin is About to Go Parabolic
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This Simple Observation Suggests Bitcoin is About to Go Parabolic

12 Jan This Simple Observation Suggests Bitcoin is About to Go Parabolic

Posted at 08:03h in Bitcoin News by

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Ever since Bitcoin (BTC) started declining last July, falling as low as $6,400 by the middle of December, analysts have been wondering when bulls are going to step in and push cryptocurrencies higher once again.

According to a simple observation of Bitcoin’s historical market cycles, the next parabolic rally could start soon. Very soon.

Related Reading: Why Analysts Think Bitcoin Price On Verge of Crash to $6,000

Bitcoin Halving to Boost Prices Pre-Event, Historical Data Suggests

Cryptocurrency analyst Nunya Bizniz recently made an eerily bullish observation about Bitcoin.

He noted that in the two previous market cycles of the BTC market, the cryptocurrency performed extremely well starting 120 days (four months) out from the cycles’ respective block reward reductions, known as “halvings” or “halvenings.”

In the four months prior to the first halving in 2012, the price of BTC rallied dozens of percent higher from $10 to around $14 by the time of the event; and in the four…

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