According to Odaily Odaily, Bitcoin has risen for eight consecutive trading days, marking the first time this has happened in nearly four years. Data shows that historically, similar consecutive upward trends have seen continued gains in the following 30 days approximately 60% of the time, with a median increase of about 19%.
This round of price increases began on March 9th, with Bitcoin's price gradually rising from approximately $68,000 to above $75,000. Analysts point out that this trend is related to capital inflows amid recent geopolitical tensions in the Middle East.
However, the market also cautions against further gains. Similar upward trends have historically occurred during bear markets; for example, in the same period of 2022, after an eight-day winning streak, the price subsequently fell by approximately 30% over the next 30 days. The market is currently in the contraction phase of Bitcoin's four-year halving cycle. (CoinDesk)
