At the moment there are several traders and investors that give their insights on the cryptocurrency market and how it can evolve in the next days, months or even years. But different enthusiasts and professionals discovered a very interesting pattern in the charts, what is it all about?
The ‘6th Pattern’ in Bitcoin’s Price
According to this theory, the 6th day of each month Bitcoin will reach a top or a bottom in its price. The 6th of January Bitcoin reached one of the highest tops it has ever had when it was traded around $17,000 dollars. After this day, BTC’s price suffered a reversal that took it just under $6,000 dollars.
The interesting fact, is that when it touched the lowest point, it was on February the 6th, just one month after it reached its highest price before starting a bear movement.
But the pattern repeats itself in the next months. Once Bitcoin was traded at its lowest point this year (February the 6th), it started to recover part of the value lost, and toped around $12,000 dollars on March the 6th.
And the theory keeps in the next months, April and May. In March the 6th, Bitcoin’s upward trend changed direction and touched new lows the 6th of the next month (April) near $6,400 dollars. We were able to experience the last bull trend between April 6 and exactly one month later when Bitcoin tried to break above $10,000 dollars.
Now we are approaching the next (possible bottom?) 6th in June when Bitcoin can reach a bottom, again. If the pattern does not break here, we could see a recovery that may take Bitcoin price near $8,750.
The information has been released by a user known as dakatol in the Trading View platform.
At the moment, Bitcoin and the crypto market do not seem to be recovering. Indeed, in the last 24 hours all the top 10 virtual currencies are operating negatively. Tron (TRX) and EOS are the ones that are losing falling the most 11% and 8.26% respectively. At the same time, Bitcoin is 1.35% down and it is being traded around $7,100 dollars.