Bitcoin has reached a 12-year trendline support level as the cryptocurrency market experiences significant volatility. The price of Bitcoin fell to $75,000, a drop influenced by a concurrent decline in gold and silver prices. This market downturn has led to increased bearish sentiment among traders. Despite the current bearish outlook, some analysts see potential for a bullish reversal. They note that Bitcoin's alignment with the 12-year trendline support could signal a forthcoming parabolic price increase. Historically, similar patterns have preceded substantial price rallies, with one expert highlighting a previous 400% surge following a similar trendline support event. As Bitcoin trades around $78,000, the market watches closely for signs of a potential recovery.
Bitcoin Hits 12-Year Trendline Support Amid Market Volatility
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