History Indicates Bitcoin Bull Run Is On The Way

2018 was basically a long string of price drops and a massive downtrend across the 12 months. Since the start of last year, Bitcoin investors (and the market as a whole) were caught up in this as well as endless accounts of fraud and hacks, fake news, and numerous speculation theories. With this, the community of investors has been left behind who either suspect that the speculation will push the markets back to where they were during the all-time highs or they eagerly believe in the technology.

Even though the bear market still has a firm grip on the market and it has been very tough for beginner investors, if history repeats itself, then a bull run is right around the corner…

There have been many theories on Bitcoin’s future with another one recently surfacing on different social media platforms and it uses history to predict the future of market movements.

One popular cryptocurrency analyst, Galaxy, took to Twitter to express his thoughts about the possibility that bull run is about to occur based on Bitcoin's historical trends. Galaxy told his 47k Twitter followers that the future lies in the study of the past”.

He went on to say, “we’re approaching the 420-day mark which ended the 2015 bear market and if history repeats itself, we’re moving towards several months of accumulation and a new bull cycle starting mid-late 2019,” as he referenced a chart that shows the 2014 bear market which lasted until 2015.

Technical indicator

Recently, there was a technical indication which is widely used throughout the community sparked a rare signal that Bitcoin could be on the brink of making a massive price move that would mean that BItcoin will see a significant buying pressure in the future.

The GTI VERA Bands indicator uses trend data over a certain time period and gives investors a bit of insight for future price movements and recently pushed out a rare signal which shows that the leading cryptocurrency is close to an ascension point that could boost a major price movement.

As reported by NewsBTC, “this was also supported by another widely used technical indicator, called the Directional Movement Index (DMI), which recently flipped positive for Bitcoin for the first time in several months, signaling that the digital asset is seeing growing buying pressure despite its relatively sideways movement over the past several weeks.”

What are your thoughts? Let us know what you think down below in the comments!