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Analysts: Bitcoin moves to the protracted phase of the bullish cycle
2019-04-08 06:52:04
Today, the exchange rate of bitcoin to the dollar repeats the dynamics of 2015, when after reaching the bottom, the first cryptocurrency moved to a phase of long-term growth. This was noticed by cryptanalyst Josh Rager, who reminded that the last time the accumulation phase lasted for 216 days.

If the bitcoin exchange rate will continue to adhere to this dynamics, the accumulation phase will last until mid-July, after which the rapid growth of the price will begin. The $1000 bullish candle formed on April 2 corresponds to the middle of the current accumulation phase.

Josh Rager predicts that the upcoming phase of the bullish bitcoin cycle will end in 2023 at around $150,000. In February, he expressed confidence that after 2021, most investors will not be able to buy more than 1 BTC due to the high price of the first cryptocurrency.

Well-known trader Peter Brandt also believes that he will soon begin an exponential growth of bitcoin. He supports the conclusions of the Raider that BTC repeats the same patterns on the chart as in 2015, after which its price increased by about 100 times.

According to Brandt, a few years ago, after working out the pattern of a bullish turn, the "double bottom" was followed by the so-called "parabolic arc", which ended in December 2017 near the $ 20,000 mark.

Now history repeats itself and after the second depression of the "double bottom", the trader notes, exponential growth can follow a similar trajectory. Note that in January 2018, Brandt predicted the collapse of prices by 80% (up to $ 3933) after the "parabolic arc".

The head of the Australian payment processing Blueshyft Kane Warwick said that Fiat money returned to the cryptocurrency market, as it happened on the eve and during the last bull rally



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