BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMarketsNewsxbtusd

If this historic pattern plays out, Bitcoin will smash $300k in no time

Historically bullish patterns have been trailing the Bitcoin market scene, signaling a potential price pump to a new all-time high. Like many other indicators, a bullish pattern has once again been spotted. This time, the estimated price unseats all previous predictions, as Bitcoin could be headed for a breakout above $300,000.

Bitcoin’s post-recovery destination is bullish all-round

According to the historical pattern spotted, Glassnode revealed a chart that shows a significant trend pattern that comes with every bull market; three bullish waves. Usually, the first wave takes the asset from its base price to a higher level.

Two other levels precede the first, with the last being higher than the second. This was captured in three bullish market cycles, where prices surged significantly at the end of the last wave. While the second and third waves have historically been slightly different in price, both waves are significantly higher than the first.

For Bitcoin, imitating this pattern could birth the most bullish Bitcoin market ever seen. Moreover, Bitcoin’s first wave (the only wave it has completed) is extremely bullish for the asset, when these historical patterns are considered.

With how fast Bitcoin surged in the first wave, there’s no telling where prices will be when the second and third wave hit, although the estimated price mark if Bitcoin follows historical patterns and surges by 7.5%, is $315,000.

Via GlassnodeWhile historical patterns are useful hints, it’s important to remember that the market dynamics from Bitcoin’s first bull run to date …
Story continues on Zycrypto

Related posts
AltcoinsDeFiNewsNews 1TechnologyTrading View

Coinbase effect still in play for Matic, Sushi and SKL

Many from the crypto community have debated the legitimacy of ‘Coinbase effect,’ or what happens to an asset that gets listed on the exchange. A recent listing announcement may rekindle the debateThe post Coinbase effect still in play for Matic,…
Brad GarlinghousecryptocurrencyNewsRippleXRP NewsXRPUSDXRPUSDTYouTube

Ripple, YouTube Reach Settlement In XRP Scams Lawsuit, CEO Brad Garlinghouse Reveals

The CEO of fintech firm Ripple, Brad Garlinghouse, recently revealed that the blockchain firm has settled its dispute with video-streaming behemoth YouTube over XRP giveaway scams. In a series of tweets on March 9, Garlinghouse noted that the two firms…
Bitcoinbitcoin etfBTCcryptocurrencyGrayscale

Grayscale on the Verge of Launching First U.S. Bitcoin ETF 

Grayscale’s latest job postings show that the firm is making active plans to launch a bitcoin exchange-traded fund (ETF). Financial regulators in the United States are yet to greenlight any crypto  ETF. Grayscale Aims to Scale the ETF Hurdle If…