Bitcoin charts reflect previous bull runs
Bitcoin has experienced a strong rally in recent days, rising from $11,200 to highs of $13,100.
Nautilus Research believes that Bitcoin’s chart forms patterns and signals that were last seen before previous exponential bull runs.
Others also believe that Bitcoin Superstar will soon experience an exponential rally.
Others who expect Bitcoin to grow strongly in the coming years include Paul Tudor Jones, a billionaire hedge fund manager, and Dan Tapiero, co-founder of Gold Bullion International.
Bitcoin could experience an exponential rally
Bitcoin has experienced a strong rally in the last few days. Coin has managed to move from the $11,200 lows of just seven days ago to a price of $13,100 at the time of writing.
Despite this strong upward movement, the rally was little more than a small twitch in the charts. Nevertheless, Nautilus Research, an independent research boutique that serves institutional investors, believes that Bitcoin’s chart is forming patterns and signals that were last seen before previous exponential bullish movements.
„Bitcoin reflects patterns that occurred prior to earlier major outbreaks.
According to the chart, as in previous cycles, BTC corrected over 80% of the cycle highs and then consolidated for over a year. Should history repeat itself, the crypto currency will soon experience an exponential rally that will take it above its previous all-time high.
Chart of BTC’s price development since 2010 with an analysis by an independent research institute for institutional investors, Nautilus Research
Others also see it this way
He is not the only one who believes Bitcoin will soon experience an exponential rally. Raoul Pal, CEO of Real Vision and former head of hedge fund sales at Goldman Sachs, recently said that an exponential rally is likely due to growing institutional influence:
„Just from what I know of all the institutions, of all the people I talk to, there is an enormous money wall into which money is flowing. It is a huge money wall – only the pipes are not there yet for people to do it, and that is yet to come. But it’s on everybody’s radar, and there are a lot of smart people working on it.“
Pal even believes the crypto currency could reach $1,000,000 in this market cycle.
On his point, Stone Ridge Asset Management just announced that the company owns 10,000 BTC. In addition, MicroStrategy and Square have included large amounts of the crypto currency on their balance sheets, further supporting Pal’s view.
Others who expect Bitcoin to grow much higher in the coming years include Paul Tudor Jones, a billionaire hedge fund manager, and Dan Tapiero, co-founder of Gold Bullion International.