Two Years of Upside? Bitcoin Yearly Candles Hint Explosive Price Growth Incoming

Bitcoin prices might be a long way off their 2019 high of almost $14,000 but this year has still seen the cryptocurrency gain in price. The year opened with the leading digital asset trading at just below $3,800, considerably less than its current price of around $7,300.

Although yearly price data is clearly limited, if previous years are anything to go by Bitcoin looks set to post two more years of gains. There seems a pattern emerging that sees a year of decline follow three years of upside.

Will Bitcoin Price Continue to Follow Emerging Yearly Pattern?

Despite the admittedly meagre sample size (Bitcoin has only been around for a decade, after all), the price of the leading cryptocurrency by market capitalisation looks poised to post two more years of upside. Bitcoin price, when viewed as a yearly candlestick chart, appears to be repeating a pattern of three years of upside followed by a year of losses. Given that Bitcoin is such a young asset, there have only been two of these four…