NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Analyst: Bitcoin Looks Exactly As It did Prior to 2017’s 2,000% Rally

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Multiple analyses have shown that Bitcoin looks primed to see a macro rally despite the ongoing uncertainty and lack of volatility.

Related Reading: BTC Just Confirmed a Signal That Preceded Historical 5,000% Rallies

Bitcoin Looks Extremely Similar to the Start of Previous Macro Rallies

According to a cryptocurrency trader, the simple chart below explains why he is currently bullish on Bitcoin. It shows the asset’s macro price action with annotations of the halving and key cycle events.

In sharing the chart, the trader is suggesting that Bitcoin currently looks almost exactly like it did prior to 2013’s and 2017’s parabolic surges. Each previous surge brought the asset to a high that was effectively an order of magnitude higher than the last.

Should Bitcoin follow its historical path, it will see a strong breakout in the months ahead, then hit a new all-time high rapidly.

Image

Macro BTC analysis by trader "Ethereum Jack" (@BTC_JackSparrow on Twitter). Chart from TradingView.com

This analyst’s chart was published shortly after Charles Edwards, a digital asset manager and a prominent technical indicator creator, shared a similar chart.

Around the same time, Edwards also noted that one of his indicators, the Hash Ribbons, just confirmed a macro buy signal. The Hash Ribbons are an indicator that derives signals from a short-term and long-term moving average of the hash rate of the Bitcoin network.

This is important for BTC because each of these signals has preceded extremely strong rallies in this nascent market. In fact, analysis by Edwards has found that each time the signal has appeared, Bitcoin has rallied by approximately 5,000% on average in the months/years that followed.

Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH

The S&P 500 Effect

Despite this, a move lower in the S&P 500 could put a stop to any rally that the abovementioned analyses suggest.

As analysts on Wall Street and in the cryptocurrency space have recently noticed, a strong correlation has grown between Bitcoin and the S&P 500. There are multiple charts online showing that when the stock market moves, so does BTC, down to a few seconds or a few dozen seconds.

Bears may, unfortunately, take the upper hand as many have begun to predict a retracement in the stock market as valuations heat up. This sentiment is timely as we are entering the earnings season for Q2 2020, predicted by some to be the worst economic quarter in decades.

Scott Minerd, the global CIO of Guggenheim Investments, has predicted that the S&P 500 could drop to 1,600 in the months and years ahead.

There’s also financial analyst Gary Shilling, who suggested that the stock market currently looks like that seen in the Great Depression:

“I think we’ve got a second leg down and that’s very much reminiscent of what happened in the 1930s where people appreciate the depth of this recession and the disruption and how long it’s going to take to recover.”

Should stocks plunge dozens of percent again, it’s unlikely that Bitcoin won’t be affected in some negative way.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Analyst: Bitcoin Looks Exactly As It did Prior to 2017's 2,000% Rally
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin LTH Selling Pressure Builds: 6–12M Coins Keep Flowing Onto The Market

Bitcoin is under renewed selling pressure as fear begins to creep back into the market. After weeks of high volatility,...

Sebastian Villafuerte 2 hours ago
Dramatic Surge in Bitcoin Millionaires Pushes Bitcoin Hyper to Nearly $18M

Dramatic Surge in Bitcoin Millionaires Pushes Bitcoin Hyper to Nearly $18M

Recent data shows that the number of Bitcoin millionaires is climbing at a pace not seen since the last bull...

Aaron Walker 2 hours ago

Ανάλυση τιμής BNB από το Grok AI – Το κορυφαίο altcoin Snorter θα κερδίσει στην κατάρρευση της αγοράς

Στην ανάλυσή του, το Grok εντοπίζει ότι το πρόσφατο ράλι του BNB γεννήθηκε από ανοδική έξοδο (breakout) ενός καναλιού που...

Ιωάννης Ριζόπουλος 1 hour ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Secondo Deutsche Bank le Banche Centrali Potrebbero Accumulare Bitcoin Entro 5 Anni

clararosati 45 minutes ago
21shares-lance-etf-dogecoin-dtcc

21Shares lance un ETF Dogecoin sur la DTCC

guillaumev 1 hour ago
27-jours-avant-fin-prevente-snorter-bot-token

27 jours avant la clôture de la prévente du Snorter Bot Token – Profitez vite de l’accès exclusif

guillaumev 2 hours ago

Premium Sponsors

Press Releases

  • ジェミニが選ぶ、市場クラッシュを乗り越える仮想通貨プレセール3つ

    ...

    3 minutes ago
  • 米英の暗号資産規制協力が進展中:今注目すべき仮想通貨おすすめとは

    ...

    18 minutes ago
  • 新しい仮想通貨が「次のドージコイン」と注目:0.0002ドルのミームトークンは爆発的に成長するか?

    ...

    38 minutes ago
  • アルトコイン市場が活発化しており、その上昇を後押しする三つの要因が注目されている

    ...

    48 minutes ago
  • イーサリアム...

    3 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.