Bitcoin Price Analysis: Current Bull Cycle Mirrors 2013, 2020 Trends – Another Rally Incoming?
Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...
Bitcoin (BTC) has rebounded from its overnight losses, gaining positive traction around $62,750 and reaching an intraday high of $63,280. This recovery is driven by ongoing bullish momentum, which mirrors patterns in the 2013 and 2020 bull markets.
Analyst Crypto Dan from CryptoQuant highlighted that in those previous cycles, long-term investors took profits twice, and the current market is showing similar signs, suggesting another potential upswing.
Bitcoin Reclaims $62k: Analysts Explain Why The Bull Cycle Is Far From Over!
Source: NewsBTC
In addition, the current global macroeconomic situation, especially with central banks cutting interest rates, is injecting more liquidity into the market, creating a bullish investment environment. China’s fiscal policy is another significant factor influencing Bitcoin’s price.
The upcoming fiscal policy update from China’s finance minister is expected to reveal measures to stimulate the struggling economy. If the government announces substantial financial stimulus, it could increase liquidity in the global markets, benefiting risk assets like Bitcoin.
However, the recent spike in the BTC price is generating renewed optimism in the cryptocurrency community. According to CryptoQuant analyst Crypto Dan, the market remains in a bull cycle, suggesting bullish long-term prospects for Bitcoin holders.
Dan compared the current market trends to previous bull cycles in 2013 and 2020, indicating that if the patterns hold, another significant upswing could be expected.
He also highlighted the impact
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