Bitcoin shows bullish signals! Research institutions analyze historical data: Corrections and bottoms have been completed, breaking 14,000 will not look back.

The cryptocurrency investment research firm Nautilus Research recently posted on Twitter, pointing out that the trend of Bitcoin since the 2017 correction coincides with the massive rallies seen in previous years. If history is any indication, Bitcoin may be on the verge of another bull market.

The Pullback Pattern of Bitcoin

Research firm Nautilus Research released a Bitcoin historical trend chart on Twitter on the 23rd of this month, summarizing similarities in the chart. The chart shows that Bitcoin has historically entered a bull market in the year following a halving of block rewards, around 2013 and 2017, and then experienced a correction after reaching a price peak.

Nautilus Research believes that Bitcoin is currently forming a similar pattern, closely resembling 2013 and 2017, and has outlined the pullback pattern that Bitcoin tends to go through before making significant breakthroughs.

According to the weekly Bitcoin chart they created, it is evident that Bitcoin's trend usually corrects by at least 80% after breaking historical highs. After several years of consolidation, the subsequent bull market is expected to last for over a year. Based on historical gains, this could potentially push Bitcoin to the $100,000 mark.

Twitter user @Pladizow, who is also a Bitcoin supporter and enthusiast in creating Bitcoin-related charts, responded to the tweet with bullish signals, mentioning in a tweet:

Any Bitcoin purchased below $14,000 can be considered a gift from above. As long as Bitcoin's monthly closing price exceeds $14,000, it is likely to continue rising without looking back.

The chart is a candlestick chart compiled from Bitcoin's "monthly closing prices." It shows that in 2013 ($16.15) and 2017 ($1,177.19), Bitcoin never looked back after breaking previous "monthly closing price" highs.

Fast forward to the present, Bitcoin's monthly closing price on Sunday also hit $13,070, marking the second-highest monthly closing price since January 2018, nearing the previous high of $13,899.

Credit to Institutional Entry

Cryptocurrency rating agency Weiss Ratings recently shared their views on Bitcoin, stating on Twitter:

The situation in 2017 will also apply to the next bull market. Altcoins will outperform Bitcoin, but in the long run, Bitcoin will remain the most worthwhile asset to buy and hold in the world.

Weiss Ratings analyst Juan Villaverde also stated that Bitcoin reaching $13,000 is crucial, as the closing price surpassed the 2019 high. He mentioned:

Bitcoin is the preferred asset for traditional investors to enter the cryptocurrency market. Seeing Bitcoin lead the charge upwards signifies new capital flowing into the market, a prerequisite for a sustainable bull market. The rise of Central Bank Digital Currencies (CBDCs) will give central banks more power to manipulate monetary policy, which will undoubtedly lead to cryptocurrencies trading at values several times higher than current levels, making them the best investment targets for the next decade.