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Bitcoin has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests.
The analogy appeared in anticipation that Bitcoin could post a 2017-like bull run, in which the BTC price rose by more than 1,900%.
First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s secular bull runs every time after halvings when the miner block reward gets cut in half.
Cointelegraph Markets analyst Michaël van de Poppe reacted to Harington’s fractal theory, adding that it would lead the Bitcoin prices to the $250,000-$350,000 range.
“This makes a ton of sense and in line with my ideas too.
Somewhere 2017 we are. Heavy breakout to come at a later stage to ~$250-350K and then landing on $65K in the bear market for Bitcoin.”
In other trending Bitcoin News today: Another Week of Institutional Accumulation: CoinShares Sees $42 Million Weekly Crypto Inflows!
Institutional investors have kept accumulating cryptocurrencies for five weeks in a row now, according to CoinShares’ latest report.
Digital asset investment products saw inflows totaling $42M last week. Inflows were seen across all digital assets and signals what we believe to be continued improving sentiment amongst investors.
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