Bitcoin Could See A 30% Rally, New Prediction Says

The crypto markets have been relatively stable lately, after a few price corrections that had a lot of investors accumulating crypto.

At the moment of writing this article, BTC is trading in the red and the king coin is priced just above $42k.

The important crypto analyst Justin Bennett just said that there would be a rally for Bitcoin (BTC) that we’ll see in a few days.

In a new strategy session, Bennett addressed the patterns in BTC’s historic price action that he says show a 20-30% rally is coming up for the king coin.

Bennett explained the fact that since early 2021, whenever Bitcoin sees a massive price dip, it usually falls below that point again in the following days or weeks before rallying.

According to him, BTC may be in the phase of this process where it’s ready to surge.

“Ever since early 2021, you can see where we get the low below the liquidation wick, we then get a move higher. Every single time this has occurred. The average move for Bitcoin is about 63%, so if you average out all these moves it’s about 63%. The smallest one was back here [in April], and this was about 27%…”

He continued and explained the following:

“If we use past price action to get an idea of what’s likely here, and we look from the low down here at $40,000…”

He also said that if we did get something like that smallest move around 27%, it would put the market up here right around $50,000.

He said that such a move would actually make a lot of sense because we know that this area between $50,000 and $53,000 is likely to be significant.

Stay tuned for more crypto predicitons and also make sure to keep your eyes peeled on the crypto market.