The Bitcoin price chart is playing out like it did in 2016 'perfectly' according to crypto traders.
Bitcoin's price chart is resembling that of just weeks after the 2016 halving and it could be "hovering around" a local bottom, according to crypto traders.) is replicating the same path as it did after the 2016 Bitcoin halving event, with one indicator signaling it may be nearing its local bottom and another indicating it reaching $350,000 during"the peak" of this cycle, according to crypto traders.
Rekt indicates that the re-accumulation range at this point of the cycle is any price below $61,081— which Bitcoin is currently trading below that at $60,901, according to CoinMarketCapFurthermore, Rekt highlighted Bitcoin is currently in the"last pre-halving retrace" stage, which, once it passed in 2016, saw a 48% spike just six months later on Dec. 30, to $973.
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