Bitcoin Poised to Reach $100,000 as 2020 Pattern Repeats

The current price trend shows that Bitcoin seems to be repeating the historical pattern of 2020. Such price action would take Bitcoin above $100,000 in the near term.

Azcnews Bitcoin Poised To Reach $100,000 As 2020 Pattern Repeats

Bitcoin is currently trading around $95,000, with price movements remaining fairly stable over the past 24 hours as the correction subsides.

According to analysis by Mister Crypto, Bitcoin appears to be recreating a pattern that occurred in 2020, which resulted in a strong rally after surpassing $20,000.

Bitcoin History
Bitcoin History

This pattern shows that BTC typically experiences an initial rally, then drops to form a bottom, followed by a recovery that forms a symmetrical triangle pattern before making a big move. Currently, Bitcoin appears to be in the middle of this cycle. After the recent rally, the price has dropped and formed a bottom, which matches the previous cycle perfectly. If the pattern continues, this could be a signal that Bitcoin will soon conquer the $100,000 mark.

BTC NUPL, or Unrealized Profit/Loss Index, is at 0.61 and has been in the “Confidence” zone since October 14. NUPL measures the ratio of unrealized profits to losses, providing insight into market sentiment.

The 0.61 level indicates rising bullish confidence as the majority of investors remain in the red, reflecting optimism about continued price gains.

Bitcoin Nupl
Bitcoin Nupl

However, despite reaching the “Confidence” zone, BTC’s NUPL is still below the 0.7 threshold — a level that typically marks a transition into a high-risk zone. Historically, when NUPL crosses the “Confidence” zone, prices typically experience a major correction due to increased profit-taking pressure.

Read more: BitWise Seeks to Launch Multi-Asset ETF for 10 Cryptocurrencies

At its current position, BTC still has room to grow before facing major risks. This strengthens the possibility of the uptrend continuing, towards the historical target of $100,000.

Love

0.0/5

Love

Latest

Ripple’s Rlusd Stablecoin Officially Approved In Dubai

News | Editor Choice | Policy & Regulations

Ripple’s RLUSD Stablecoin Officially Approved in Dubai

Ripple’s RLUSD – the company’s new stablecoin – has just been approved in Dubai, marking a significant step in its global expansion strategy and reinforcing its position in the digital finance market.

Ig Group Is The First Company In The Uk To Offer Crypto Trading

Editor Choice | Policy & Regulations

IG Group is the first company in the UK to offer crypto trading

IG Group, an investment platform in the UK, has officially launched services for buying, selling, and storing cryptocurrencies for investors.

Russia’s Largest Bank Launches Bitcoin Linked Bonds

News | Bitcoin | Editor Choice

Russia’s Largest Bank Launches Bitcoin-Linked Bonds

Sber — Russia’s largest commercial bank — has made headlines by launching a Bitcoin-linked bond, marking a significant step toward integrating digital assets into the country’s traditional financial system.

Ethereum Foundation Restructures Staff, Renames Core Development Team

News | Altcoin | Editor Choice

Ethereum Foundation Restructures Staff, Renames Core Development Team

The Ethereum Foundation (EF) has recently restructured its core development team and reduced headcount to place greater emphasis on scalability and user experience.

Pi Network Launches Fruitypi To Enhance The Utility Of Pi

Pi Network | Editor Choice

Pi Network launches FruityPi to enhance the utility of PI

The Pi Core Team (PCT) has officially launched FruityPi, a game designed to enhance the utility of PI Coin.