Once again, the crypto market is in a panic. And it is that, despite the incredible increase in the price of Bitcoin and other crypto assets in recent months. A drop in the price of Bitcoin, when it looked like it was preparing to break the $ 60,000 mark, has caused fear to spread among investors. Therefore, Anthony Pompliano reminds the crypto community that Bitcoin has grown 659% in the last 12 months in the Tweet of the day:
The Bitcoin rally in 12 months
Just 1 year ago it was very difficult to predict the future of Bitcoin. And it is that, after the beginning of the pandemic generated by COVID-19, the cryptocurrency experienced one of its worst collapses, losing 49% of its value in a matter of hours. Trading in the order of $ 6,706 per BTC for March 25, 2020.
This led many crypto skeptics to point to the BTC price chart, heralding the end of the cryptocurrency, and its next collapse to $ 0. However, these gloomy forecasts did not push back members of the crypto community. Those who were confident that the third Halving in the price of Bitcoin, with its decrease in the rate of increase in the supply of the cryptocurrency, would be enough to put BTC on track once again.
And as the last few months have shown, they were right. Well, starting in October 2020, Bitcoin has experienced the largest bull rally in its history. Leaving behind its historical ceiling around $ 20,000, to settle at the time of writing this article at $ 51,835 per BTC. An impressive increase, as Anthony Pompliano comments on his Twitter account:
«Bitcoin has risen 659% in the last 12 months».
Pompliano’s message comes at a time when many within the crypto community fear that we have reached the end of this bull cycle. This after the BTC failed in its attempt to overcome the barrier of $ 60,000. However, for Pompliano, a correction like this, when compared to Bitcoin’s performance in recent months, does not indicate a definitive collapse of the crypto asset.