news 
Bitcoin Could Skyrocket by 25% in Days if History Repeats But There’s a Catch: Data
The cryptocurrency market is abuzz with speculation, and the recent price decline of Bitcoin (BTC) has sparked concerns among investors. However, history may be on the side of those who bought the dip. A fascinating analysis from Santiment suggests that if the trend repeats itself, the asset could potentially skyrocket by 25% in a short span.
It’s worth noting that such a rise would be incredibly bullish and could have far-reaching implications for the overall crypto market. If this scenario plays out, investors who missed the initial train may get another chance to jump on board and capitalize on the gains.
In recent times, BTC’s price tumbled by double digits, which has led to a surge in discussions about buying the dip. According to Santiment, this phenomenon was also seen last August when the cryptocurrency’s price plummeted below $50,000. Just days later, it managed to recover and surpassed $62,000.
The data highlights that if history repeats itself, Bitcoin could recover its losses and potentially soar above $120,000. However, there is a crucial caveat to consider: other on-chain and technical metrics are not as optimistic about the short-term prospects of BTC.
For instance, IntoTheBlock has identified an area of significant demand around $97,500, which served as a key support level for investors to accumulate their positions. Unfortunately, this vital line has now been broken to the downside.
Source: cryptopotato.com
