Bitcoin Price Could Break ATH in 7 Days, Here’s What the Data Reveals
The post Bitcoin Price Could Break ATH in 7 Days, Here’s What the Data Reveals appeared first on Coinpedia Fintech News
It’s been nearly two months since Bitcoin last tried and failed to break past the $112K mark. Three attempts, and still no new all-time high. But that might be about to change. According to recent on-chain data, Bitcoin could be just days away from setting a new record.
CryptoQuant analyst Axel Adler Jr. has spotted a repeating pattern that could explain what’s building beneath the surface, and why a major breakout might be next.
Bitcoin’s New High Just Days AwayOver the years, Bitcoin has shown an interesting habit. When its price keeps rising during a bull market and there is no big drop, it often hits a new record within about 50 days.
According to Axel Adler Jr, it has now been 47 days since Bitcoin last reached its all-time high, and so far there hasn’t been a sharp fall of more than 20%. If this pattern continues, Bitcoin could break its old record very soon.
If there is no deep correction (a decline of more than 20%) during a bull market, a new all-time high typically occurs within 50 days. It's now been 47 days since the last ATH, and we haven’t seen any major pullback.
History doesn’t have to repeat itself but the numbers don’t… pic.twitter.com/BS1R0lhNdZ
