While Bitcoin has dipped from its recent highs of around $74,000, some analysts are urging investors to stay calm and even see this as a buying opportunity. So far, Bitcoin prices have remained under pressure, trickling lower in the past trading week. Are There Similarities With The Bitcoin Bull Run Of 2020? Though the downward momentum is slowing down, and there has been no confirmation of the April 2 dump, the failure of bulls to convincingly flow back and drive the coin above $71,000 remains a concern for some traders. Even so, taking a bullish stand, one analyst on X compares the current formation with that of 2020. Pointing to the cyclic nature of prices and the inevitability of retracements from bottoms and peaks, the trader expects prices to bounce. Related Reading: Fantom Supply On Exchanges See Drastic Increase, A Cause For Alarm? The trader said that in 2020, when Bitcoin prices fell, shaking out weak hands, the recovery sparked a bull run that forcefully saw the coin surge above previous all-time highs of $20,000. The analyst seems to allude to the ret ..
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