Aaron Arnold, a cryptocurrency trader and host of the Altcoin Daily channel that is very closely followed among the crypto community, predicts that Bitcoin (BTC) will reach all-time highs in the near future.
The crypto trader tells his 1 million YouTube subscribers that the world’s largest crypto currency is poised for an explosive rally in the next few months if Bitcoin can find support above $40,000.
Arnold observes that despite the downward trend in price over the past few weeks, the adoption of the Bitcoin Lightning network has reached all-time highs.
“Bitcoin adoption looks incredibly bullish at this point… Bitcoin Lightning adoption is on the rise and these are times when the market is crashing, people are quiet, investors are bearish or have no comment; That’s when the opportunity arises.”
By comparing the 2021 cycle with previous bull runs in 2013 and 2017, Arnold said; believes its all-time high may be just 30 days away. 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 shows that BTC will continue its uptrend after entering the 198th day of consolidation.
“Now let’s talk about how the all-time high will come in about 30 days… People like to say that history repeats itself. In reality, I believe history is harmonious. And history in 2021 continues to align with the past and act in a similar way as it did in 2017. What we saw in 2013; I believe we acted in a way similar to when we entered a long period of consolidation that lasted for days after experiencing the first bottom, followed by a big dip to drive the weaker hands away from the market.
In 2013, this decrease was 17 percent, this cycle is around 23′. However, I believe that we will break up, as we did in 2013.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.