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Is History Repeating Itself? Bitcoin's 3-Month Winning Streak Hints at Massive Gains

Fri, 03/31/2023 - 08:09
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Alex Dovbnya
As Bitcoin nears its third consecutive month of gains, analysts are drawing parallels to its performance between October 2020 and March 2021
Is History Repeating Itself? Bitcoin's 3-Month Winning Streak Hints at Massive Gains
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As Bitcoin (BTC) approaches its third consecutive green month, market analysts are drawing comparisons to the cryptocurrency's performance between October 2020 and March 2021. In that period, Bitcoin's price skyrocketed from $10,400 to $61,700.

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According to TradingView data, Bitcoin is up 21% this month and currently trading at $28,093 on the Bitstamp exchange.

This impressive growth comes despite numerous headwinds within the crypto sector. They include regulatory storms against exchanges and individuals as well as a drought of new institutional money entering the market.

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Notable recent setbacks include a lawsuit launched like a torpedo by the Commodity Futures Trading Commission (CFTC) against Binance, the world's largest cryptocurrency exchange, and its CEO, Changpeng Zhao, over alleged regulatory compliance violations.

Despite the negative headlines casting shadows on the market, Bitcoin's price continues to surge, confounding skeptics and defying expectations.

The largest cryptocurrency has even outperformed both the Nasdaq and gold, attracting headlines once again.

The current three-month winning streak raises the question of whether history is indeed repeating itself, and if so, whether Bitcoin is poised for another parabolic price increase reminiscent of the October 2020 to March 2021 period.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at