Bitcoin is up by almost 180% year-to-date. To some, the disbelief rally has run its course, and it is now time to short the market. While a quick short might be profitable now, one trader believes that the rally from $3,000 to almost $14,000 is nothing but a warm-up. According to an analyst, all four BTC bull runs were massive local bubbles. In his humble opinion, bitcoin is the future.
If you look at the history of every bitcoin bull run, you’d see that every run skyrocketed by a minimum of over 340% from the previous bull cycle top. The analyst might be on to something because recently one of the most followed traders on Twitter, Peter Brandt, tweeted that the king of cryptocurrencies may have entered a fourth parabolic phase.