New heights or new crash? Crypto trader Aaron Arnold predicts that Bitcoin history will repeat itself

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Widely followed crypto trader and Altcoin Daily co-host Aaron Arnold is predicting new all-time highs for Bitcoin (BTC) in the near future.

As Bitcoin finds support above $ 40,000, the crypto trader tells his one million YouTube subscribers that BTC could prepare for an explosive rally in the coming months.

Arnold notes that, despite the bearish price action in recent weeks, adoption of the Bitcoin Lightning network is reaching new all-time highs.

Bitcoin adoption at this point looks incredibly bullish Bitcoin Lightning adoption is going vertical, and that’s how it is, when the market is down, when people are calm, when people are bearish or don’t say anything about the market. everything, that’s where the opportunity lies.

Arnold believes a new all-time high might be just 30 days away, comparing the 2021 cycle to previous bull runs in 2013 and 2017.

Bitcoin consolidated for 174 days in 2013 and 55 days in 2017. Now BTC is in the middle of a 167 day consolidation period.

Arnold shares a chart which he believes suggests BTC will resume its uptrend after entering the 198th day of consolidation.

Let’s talk about how the new all-time high is around 30 days People like to say history repeats itself. Well, actually, I believe history rhymes and history rhymes in 2021, and does something similar to what it did in 2017, and does something even more similar to what we saw in 2013, where we saw the initial drop, a number of days of a long consolidation, and then it goes up a bit, it makes this big drop to shake up a lot of people.

In 2013 it was 17%, this cycle of about 23%. But I think we were going to go up, just like we did in 2013. ”

Source: The Rational Root / Twitter

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