Bitcoin Hit 12 Year Trendline Support as the Market Witnessed Another Market Dump
- Bitcoin hit 12 year trendline support as the market witnessed another dump.
- The prices of gold and silver fell leading to BTC hitting $75,000 prices.
- Analysts notice bullish signal that could lead to a parabolic price pump soon.
The crypto community is scrambling to find hope is a time of bearish fear rising. The current crisis in the crypto market is the latest price crash which took the price of BTC to the $75,000 price range, a dip following the crash of gold and silver prices. With several financial markets trading in red, the community grows bearish. However, one expert notices that Bitcoin hit 12 year trendline support as the market witnessed another market dump.
Bitcoin Hit 12 Year Trendline Support as the Market Hits Latest Dump
The last 48 hours have been a tumultuous time for the crypto community and other financial markets. In detail, the price of BTC fell as low as the $75,000 price range, allowing several silent accumulators to take advantage of the dip. Just before the price of Bitcoin fell, the price of gold and silver fell hard as well, leading to what some analysts and experts believe triggered the final shakeout before crypto pumps.
These experts believe that capital will now rotate back into the crypto market that will lead to new ATH prices and an epic rally that’s never been seen before. As we can see from the post above, one analyst goes on to explain how the price of Bitcoin dropped because it was the final full moon of the Snake year. This marked a silent time of accumulation before a parabolic leap in prices.
The New Year is the year of the Horse, and experts expect fast momentum, high speeds, epic expansion, and aggressive price moves for crypto assets in the coming year ahead. Sifting from preparation to execution, this expert marks the cycle low and expects the next 3 months to decide what happens next in the long-term. The analyst concludes with a message to buy fear and hold hope as the run will come unexpectedly.
Final Dump Before a Crypto Market Surge
At the moment, the price of BTC is trading at the $78,000 price range, showing a drop of over 5% in the last 24-hours. Over the last two days, the price of BTC fell rapidly from $89,000 to $75,000, following a massive price drop in both gold and silver prices. The pioneer crypto asset needs a run of over 37.5% to see its previously set ATH price in the $126,000 range.
Meanwhile, another reputed crypto expert shares a jewel of an observation on the BTC price chart. As we can see from the post above, the analyst marks how Bitcoin just hit a 12-year trendline support. He highlights that the last time Bitcoin pulled this pattern, the price of Bitcoin went up by 400%. This ignites exciting bullish sentiments among BTC traders and crypto asset holders.
