After a challenging first quarter, Bitcoin (BTC) has seen a strong resurgence in recent weeks. Since the start of Q2, it has surged by over 27%, surpassing $105,000 and signaling a potential for significant growth. This renewed optimism is fueled by a historical pattern that analysts are closely watching.
Crypto analyst EᴛʜᴇʀɴᴀꜱʏᴏɴᴀL points to Bitcoin’s current monthly chart structure showing similarities to its 2017 rally. If this historical fractal plays out, it could foreshadow another major bullish move for BTC.
Back in 2017, after a bear market and an accumulation phase (highlighted in grey), Bitcoin steadily broke through its 12-month moving average, a key indicator of trend strength.
This helped the cryptocurrency surpass its previous all-time high of around $1,200. It then surged over 1,400% to reach nearly $20,000 before ultimately reaching its new all-time high of ~$30,000.
Now, Bitcoin appears to be repeating this historical pattern with a strong break above the 12-month moving average. This time, it has shattered through its previous record of $68,000 and is now trading at over $105,000.
What does this mean for the future of Bitcoin?
If this historical fractal repeats, we may see BTC surge towards $300K-$400K or even higher in the coming months. Institutional interest continues to rise, US spot Bitcoin ETFs are expected to gain significant traction, and macroeconomic conditions are improving with cooling inflation and more stable interest rate expectations.
While markets are unpredictable, this historical pattern offers strong encouragement for those bullish on Bitcoin. If BTC follows its 2017 path, a parabolic surge could soon become reality.
Disclaimer: This article is for informational purposes only and not financial advice. All investment decisions should be made after consulting with a professional.