Bitcoin is up 50% in the last 16 days of 2020 – will history repeat itself this year?

The last two weeks of 2020 were one of the most bullish for Bitcoin at up to 50%. Given the uncertainties surrounding the recent Federal Reserve (Fed) meeting, the question arises whether Bitcoin can do it again.

Protest in the Christmas season 2020

2020 was a turbulent year in every way, including in the crypto space. BTC entered the game with high hopes, with the third halving in May expected to spark another big bull run like it did in 2012 and 2016.

However, the Covid-19 pandemic came and turned everything upside down. BTC is also not free from tragedy and volatility occurred in March when it fell more than 50% to less than $ 4,000 in a single day.

However, in the months that followed, the situation began to normalize again. The halving has arrived, and Bitcoin is really continuing to recover through the end of 2020 as institutions and well-known investors get involved.

As a result, BTC hit an all-time high (ATH) near $ 20,000 in mid-December. This is the moment when the entire crypto community waited three years for their arrival, breaking coveted boundaries and breaking new ground.

The bullish sentiment continued for the next two weeks. BTC finally rebounded 50% in the final days of the year, landing at around $ 29,000 – its all-time high.

Can Bitcoin Do It Again?

2021 was a pretty great year for the market, Bitcoin is constantly setting new ATH values. It peaked at $ 65,000 in April when things looked bullish, but turned bearish in the months that followed as China repeated its ban on cryptocurrencies and boycotted miners.

The bull movement continued into the second half of the year, and Bitcoin consistently broke its April ATH in October and then November, the current ATH is at $ 69,000.

In about a month or so, Bitcoin saw another drop, losing about 30% against ATH. Most insiders, who are very optimistic about cryptocurrencies at the end of the year, attribute the recent decline to uncertainties from the US and the Fed’s FOMC meeting.

At this point, after the Fed has made a decision, Bitcoin could be prepared for another bull run, at least according to CryptoQuant analyst VentureFounder.

VentureFounder believes the technicals will remain intact and a “minor” bullish RSI divergence will form. As a result, he found that the overall dynamics can change quickly and Bitcoin could re-enter the 2020 bull run.

If Bitcoin is actually 50% above its current price, it will break the November ATH by rising above $ 70,000.

https://twitter.com/venturefounder/status/1471371151771410438?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“Last year, December 15th through December 31st, Bitcoin had an amazing rally that rose from $ 19,000 to $ 29,000 in 2 weeks (50% rally).

Sometimes the dynamics can change quickly. Like a bearish turn of $ 69,000. A little bullish RSI divergence has formed, let’s see if we get a breakout from the RSI. “

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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