There is more data coming in, suggesting that halving the block reward in May will trigger a remarkable increase in Bitcoin’s value. This latest analysis suggests that the cryptocurrency flagship will rise slowly and steadily for the rest of the year, and will eventually outperform its all-time high.
Bitcoin price follows a clear pattern
Analyst Bitcoin Jack has released a chart that examines a set of indicators on weekly closing prices, all of which indicate an upcoming bull run.
This chart examines the moving averages and Fibonacci sequences of the current market and compares them to similar data from the 2013-2017 bull run. There are clear parallels in most of the data. If the pattern continues, the price of Bitcoin will move strongly upwards, at least in the next twelve months.It is worth noting that Bitcoin Jack does not predict a rapid price increase, at least not as you are used to in the crypto market. Rather, it suggests that Bitcoin will rise slowly and steadily, as was the case during the last bull run that lasted until early 2018. Still, the cryptocurrency could hit a new all-time high within a few months.