Analyst: Based on Historical Data, Bitcoin’s Next Market Cycle Could Send it Towards $78,500

Despite facing some selling pressure today, Bitcoin and the entire crypto markets are currently in a firm uptrend that have sent BTC surging to fresh year-to-date highs in a matter of mere weeks. This upwards trend has all the makings of the early stages of a bull market, and many analysts believe that the crypto has significantly further gains ahead of it.While looking towards Bitcoin’s historical trend data, it becomes apparent that it may incur significant gains in the course of its next uptrend, which may allow it to surge as high as $78,500 in the coming years.Bitcoin Drops Slightly After Failing to Maintain Above $8,000At the time of writing Bitcoin is trading up just under 2% at its current price of $7,870 and is down slightly from its 24-hour highs of nearly $8,300.Although Bitcoin’s swift move into the $8,000 region made many traders and analysts believe that a move…

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