Widely adopted crypto dealer and Altcoin Daily co-host Aaron Arnold is predicting new all-time highs for Bitcoin (BTC) within the close to future.
As Bitcoin finds help above $40,000, the crypto dealer tells his 1 million YouTube subscribers that BTC might be gearing up for an explosive rally over the subsequent few months.
Arnold notes that, regardless of bearish value motion over the previous few weeks, Bitcoin Lightning community adoption is rising to new all-time highs.
“Bitcoin adoption at this level seems extremely bullish… Bitcoin Lightning adoption goes vertical, and it’s instances like this, when the market is down, when individuals are quiet, when individuals are both bearish or not saying something in any respect, that’s the place the chance is.”
Arnold believes a brand new all-time excessive might be simply 30 days away, evaluating the 2021 cycle to earlier bull runs in 2013 and 2017.
Bitcoin consolidated for 174 days in 2013 and 55 days in 2017. Now BTC is within the midst of a 167-day consolidation interval.
Arnold shares a chart that he believes suggests BTC will resume its uptrend after coming into the 198th day of consolidation.
“Let’s discuss how the brand new all-time excessive is about 30 days away… People like to say that historical past repeats itself. Well, in actuality, I imagine that historical past rhymes and historical past is rhyming in 2021, and doing one thing comparable to what it did in 2017, and doing one thing much more comparable to what we noticed in 2013, the place we noticed the preliminary dip, a variety of days of a protracted consolidation, after which it will get up a bit bit, it does this massive drop to shake lots of people out.
In 2013 it was 17%, this cycle it’s about 23%. But I imagine we’re going to break to the upside, identical to we broke to the upside in 2013.”
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