For Bitcoin, $ 20,000 is just the beginning – Speculations

The past few weeks have been an explosive time for Bitcoin. After bottoming out at $ 3,700 in mid-March, the cryptocurrency recovered over 170%. BTC recently passed the $ 10,000 mark, which is becoming increasingly important.However, top analysts agree that this recovery from the lows is just the start of a larger bull market for Bitcoin.Bitcoin gives the same signal as it did before the 2,000% recoveryAlthough Bitcoin only dropped to $ 3,700 eight weeks ago during the March liquidation, important signals are already signaling the return to a full-blown bull market.

 

Graph analysis

A prominent analyst recently shared the chart below that overlays Bitcoin’s two-week macro graphics with a custom trend indicator.The graph shows that the custom indicator just printed a “buy” – most recently when BTC recovered from $ 6,000 to $ 14,000, and also in late 2017 before the 2,000% recovery from $ 1,000 to $ 20,000. So the story repeats itself when the crypto market recovers from here by hundreds of percent.The graph also shows that BTC has broken a downward trend that has been sustained since peaking at $ 14,000 in 2019 – and is further reinforcing the upward trend.