It’s fair to say that Bitcoin investors aren’t too optimistic at the moment; after last week’s almost-50% decline, there are few reasons to be optimistic about the future of cryptocurrencies, let alone financial markets in general.<\/p>\n
But, analysts have begun to share a fractal that suggests the price of BTC will return to its $20,000 all-time high in under 12 months’ time from today. While this may seem irrational at the moment, Bitcoin has seen crazier price action, like when it rallied 2,000% in 2017 or when it crashed 50% in a week to only rally by hundreds of percent by year-end.<\/p>\n
Although markets seem irrational, there is an underlying rhythm to all of them, which can be found through fractal analysis, the act of considering an asset’s historical price action or broader trajectory in the current.<\/p>\n
Bitcoin Jack recently found<\/a> one such fractal with BTC, remarking that the asset has been acting remarkably similar to the Nasdaq in the midst of the Dotcom Boom and Great Recession; both charts have a blow-off top, a secondary top that results in a rapid rejection, and then a crash in the wake of the secondary top.<\/p>\n What the Nasdaq chart has that Bitcoin doesn’t is a parabolic rally after the end of the second crash. Per the analyst’s interpretation of this fractal, BTC following the Nasdaq, adjusted to the current time scale, will give the cryptocurrency fuel to hit a new all-time high at $20,000 by January 2021.<\/p>\n A really cool fractal<\/p>\n I added some context to it, comparing the virus with the 2008 crash<\/p>\n Gann analysis on the price and time aspects shows high confluence for this scenario with near ATH levels around EOY\/NY<\/p>\n Kudo's to @CryptoCapo_<\/a> and @kenzboard<\/a> who showed me the fractal pic.twitter.com\/JHTPZO6s1w<\/a><\/p>\n — \/\/Bitcoin \ud835\udd75ack \ud83d\udc10 (@BTC_JackSparrow) March 15, 2020<\/a><\/p><\/blockquote>\n\n