Bitcoin metric experiences a repetition of the bullish trend resulting in BTC price gains of up to 1,900%

Bitcoin (
BTC
) has the potential to reach $180,000 if a new bull signal repeats historical gains, according to Caleb Franzen, founder of Cubic Analytics. In a recent post, Franzen highlighted the possibility of BTC price returns increasing by 260% from current levels in this cycle. Franzen analyzed the Williams%R Oscillator, a long-term BTC price metric, and found that it is currently flashing a rare bull signal for only the fourth time in history. Despite the decreasing returns in each cycle, with 2013 seeing 1,900% returns and 2020 seeing 260% returns, matching the latter would result in a BTC price of $180,000. However, Franzen cautioned that these rare events do not guarantee future performance. Additionally, the Relative Strength Index (RSI) also indicates a bullish trend, with daily and monthly timeframes showing overbought levels. It’s important to note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.