The widely acclaimed crypto trader and co-host of Altcoin Daily, Aaron Arnold, is forecasting new all-time highs for Bitcoin (BTC) in the near future.
With Bitcoin finding support above $ 40,000, the crypto trader is telling its 1 million YouTube subscribers that BTC could be preparing for an explosive rally in the next few months.
Arnold notes that the adoption of the Bitcoin Lightning network is growing to new all-time highs despite declining price movements in recent weeks.
“Bitcoin adoption looks incredibly bullish at this point … Bitcoin Lightning adoption is moving vertically, and it’s times like this when the market is going down, when people are calm, when people are either bearish or say nothing at all, there is the opportunity. “
Arnold believes a new all-time high could be just 30 days away and compares the 2021 cycle to 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 period.
Arnold shares a chart that he believes BTC will resume its uptrend after entering the 198th day of consolidation.
“Let’s talk about the new all-time high in about 30 days… People like to say that history repeats itself. Well, in reality, history rhymes and history rhymes in 2021, doing something similar to 2017, and something even more similar to 2013 when we saw the first slump, a number of days of long consolidation, and then it rises a little, it makes that big drop to shake off a lot of people.
In 2013 it was 17%, in this cycle it is around 23%. But I think we will break through to the top, just like we broke through in 2013. “
Source: The Rational Root / Twitter
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