The Bitcoin chart “repeats” earlier exponential surges

  • Bitcoin has seen a strong rally in the past few days, rising from $ 11,200 to $ 13,100.
  • Nautilus Research believes the Bitcoin chart forms patterns and signals that were last seen before previous exponential bull runs.
  • He’s not the only one who believes Bitcoin will soon see an exponential rally higher.
  • Others who expect Bitcoin to see significant gains in the coming years include Paul Tudor Jones, a billionaire hedge fund manager, and Dan Tapiero, co-founder of Gold Bullion International.

Bitcoin could see an exponential rally, as the research boutique indicates

Bitcoin has seen a strong rally in the past few days. The coin has moved from lows of $ 11,200 just seven days ago to a price of $ 13,100 at the time of this writing.

Despite this sharp rise, this rally didn’t see much more than one slip up the charts. However, Nautilus Research, an independent research boutique serving institutional investors, believes the Bitcoin chart forms patterns and signals last seen before previous exponential bull runs.

“Bitcoin mirrors patterns from previous major breakouts.”

As the graph shows, as in previous cycles, BTC corrected over 80% from the cycle highs and then consolidated for over a year. Should history rhyme, the cryptocurrency will soon see an exponential rally that will push it above its all-time high so far.

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Graph of the price development of BTC since 2010 with an analysis by an independent research company for institutional investors, Nautilus Research

Not the only one who thinks that way

He’s not the only one who believes Bitcoin will soon see an exponential rally higher. Raoul Pal, CEO of Real Vision and former head of hedge fund sales at Goldman Sachs, recently stated that an exponential rally is likely due to growing institutional influence:

“According to what I know about all the institutions, all the people I speak to, there is an enormous wall of money in it. It’s an enormous wall of money – only the pipes aren’t there yet to make it possible for people, and this is coming. But everyone is talking about it and there are a lot of smart people working on it. “

Pal went so far as to say that the cryptocurrency could reach a price of $ 1,000,000 in this market cycle.

Stone Ridge Asset Management just announced that it owns 10,000 BTC. Additionally, MicroStrategy and Square have added large amounts of the cryptocurrency to their balance sheets, which only solidifies Pal’s sentiment.

Others who expect Bitcoin to see significant gains in the coming years include Paul Tudor Jones, a billionaire hedge fund manager, and Dan Tapiero, co-founder of Gold Bullion International.

Featured Image from Shutterstock Price Tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Research Boutique Suggests Bitcoin “Repeats” Previous Exponential Spikes

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