n the world happens to have a pattern that has proved true despite the challenges from external factors. The same pattern this time around gives us an idea of where BTC might land by 2024.Bitcoin price is currently hovering above the $27,000 mark, which came after a couple of days of green candlesticks, followed by a slight dip over the past 48 days. While this in itself does not give much away, the Relative Strength Index does.
Starting 2014, BTC has been noting a pattern of one year of losses followed by three years of positive returns. This development has remained true irrespective of the external factors, i.e., the COVID-19 pandemic, crypto market contagions in 2022, etc.Thus, if Bitcoin price ends up following this pattern, it would establish 2023 to be the year when BTC would still be noting gains. Given that, in the past, the year following losses tends to bear lesser profits, a 37% rise would fit the bill.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.