Year-to-date, the bitcoin price has surged by 113 percent in a stunning recovery, achieving $8,000 in merely six months after plunging to $3,150 in December 2018. As said by Thomas Lee, a co-founder at Fundstrat Global, bitcoin has historically tended to record most of its gains in a short time frame, typically in a 10-day window, unlike traditional assets and asset classes.
According to cryptocurrency researcher Alex Saunders, the last time the bitcoin price closed above $8,300, it took 13 days to achieve a new all-time high at $20,000.
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https://www.ccn.com/analyst-last-time-bitcoin-closed-8300-13-days-to-reach-20kAnalysts are now looking at the 2017 bull run if there can be some patterns and similarities. Just imagine, it just took 13 days for bitcoin to get into $20,000 level after breaching the $8,300 but this was in 2017. Now, they are asking if the same pattern will be traced by bitcoin. In my opinion, I think bitcoin is different this time. Aside from bitcoin getting mature, the market is quite different today and I am sure there are also variations in the people playing in the market. Personally, I prefer a slow but steadily rising bitcoin rather than an abrupt rise and then a fast fall.