Co-hosts Altcoin Daily suspect New all-time high for Bitcoin in the near future.
With the crypto king finding over $ 40,000 in support, Aaron Arnold says BTC could be preparing for an explosive rally in the next few months.
The trader noted that the adoption of the Bitcoin Lightning network is growing to a new all-time high despite the declining price movements in recent weeks.
“Bitcoin launch looks extremely optimistic at this point … Bitcoin Lightning launch is happening vertically, and at times like this, when the market is going down, when everyone is calm, when everyone is calm. Discount or say nothing at all, this is an opportunity. “
Arnold believes new all-time highs could be just 30 days away compared to the 2021 cycle with previous bull runs in 2013 and 2017.
Bitcoin consolidated for 174 days in 2013 and 55 days in 2017. Now BTC is in the middle of a 167-day consolidation phase.
Arnold shared a chart in which he believes BTC will continue its uptrend after hitting its 198th day of consolidation.
“Let’s talk about how to get back to a new all-time high in about 30 days… People like to say that history repeats itself. In fact, I believe the story will rhyme in 2021 and play out similarly to 2017 and also similar to 2013. The sequence will be original. This is a weak hand wash.
In 2013 it was 17%, this cycle is around 23%. But I think we will break out, just like in 2013. “
The source: The Rational Root / Twitter
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According to Dailyhodl