The post NBA Icon Scottie Pippen Spots Crucial Pattern in Bitcoin’s Price Development appeared on BitcoinEthereumNews.com. Scottie Pippen has spotted the repeatThe post NBA Icon Scottie Pippen Spots Crucial Pattern in Bitcoin’s Price Development appeared on BitcoinEthereumNews.com. Scottie Pippen has spotted the repeat

NBA Icon Scottie Pippen Spots Crucial Pattern in Bitcoin’s Price Development

  • Scottie Pippen has spotted the repeat of a 2020 trend in Bitcoin’s price.
  • Bitcoin surged 550% in 2020 after establishing support identified by Pippen.
  • Network activity and institutional demand support a potential Bitcoin rally.

Six-time NBA champion Scottie Pippen has identified a pattern in Bitcoin’s price development that suggests the cryptocurrency may be preparing for a significant bull run. In his latest post on X, Pippen shared a screenshot, highlighting similarities between Bitcoin’s current trend and the price behavior in 2020.

A 2020 Pattern in 2026

Pippen’s post showed how Bitcoin experienced a notable pullback after an impressive rally, only to turn around and deliver what became a historical uptrend. Besides sharing chats comparing BTC’s price movement across both eras, the NBA icon noted that Bitcoin’s current level aligns with the base of the 2020 pattern, suggesting the cryptocurrency might be on the verge of another upside reversal.

Related Articles: Bitcoin Price Prediction: BTC Rallies To $67,794 Despite Worst 50-Day Start On Record

For context, the historical data Pippen shared showed that Bitcoin surged more than 550% after bouncing off support in September 2020. It marked a new era in Bitcoin’s life, as the cryptocurrency climbed above the $20,000 milestone for the first time, opening the way for higher price targets.

BTCUSD Monthly Chart on TradingView

Is Bitcoin Heading to $430,000?

TradingView’s data reveals that Bitcoin currently trades for $68,202, a price that coincides with the top of the 2020/2021 BTC rally, which now acts as strong support for the cryptocurrency. It is technically ideal to expect a reversal around this point, considering Bitcoin’s historical behavior. Also, judging by Pippen’s comparison, a repeat of the identified trend, which would lead to another 550% rally, could see Bitcoin reach a new all-time high of approximately $430,000.

Although this target appears optimistic, considering Bitcoin’s behavior over the past few months, it is worth noting that the cryptocurrency’s most significant rallies have come after severe bearish trends. Besides, Bitcoin’s increasing network activity and the influx of institutional investors remain viable signals that the cryptocurrency may be building momentum for another significant bull run. A feature that has characterized its development from inception.

Related Articles: UAE Mined $454M in Bitcoin, Holds $344M Profit as Supply Tightens

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source: https://coinedition.com/nba-icon-scottie-pippen-spots-crucial-pattern-in-bitcoins-price-development/

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