Bitcoin

Time

<p class="p1"><a href="https://www.newsbtc.com/bitcoin-news/bitcoin-triumphs-41000-heres-prevent-50000/">Bitcoin is on an impressive run</a> and finally <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-blasts-past-41500/">broke above $40,000</a> for the first time in over a year. This run has been in the making for a few months with the climax coming between the months of October and December. As a result, Bitcoin has now recorded 8 green candles on the weekly chart and historical performance suggests that this is bullish for the price.</p> 
<h2 class="p1" id="8-green-candles-for-btc-on-the-weekly-chart">8 Green Candles For BTC On The Weekly Chart</h2> 
<p class="p1">In the last two months, the Bitcoin price has consistently closed in the green, a trend that seemed foreign only a few months ago. This green trend has continued through November which was expected to be a bearish month and with the start of December, Bitcoin saw another green weekly close.</p> 
<p class="p1">During this time that the <a href="https://www.newsbtc.com/bitcoin-news/analyst-expects-bullish-trend-for-bitcoin-ethereum-and-cardano/">BTC price</a> has seen consistent green closes on the weekly chart, the price has gone from as low as $27,000 to as high as $42,000. This means that the price has risen approximately 50%, adding around $15,000 to its value in this two-month period.</p> 
<p class="p1">This comes amid a time of polarizing views between the bulls and the bears despite the bullish indicators continuously winning out. The gains of the last eight weeks have completely washed out a year of intense bearish headwinds and have seen the Bitcoin price completely recover all its losses from the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-touches-20000-for-first-time-post-ftx-collapse/">FTX collapse</a>, as well as its far-reaching contagion.</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/CQt4H2zW/" alt="Bitcoin price chart from Tradingview.com (8 green candles)" width="2650" height="1530"></p> 
<h2 class="p1" id="what-happens-to-bitcoin-the-last-time">What Happens To Bitcoin The Last Time?</h2> 
<p class="p1">With Bitcoin, historical performance can often be a good pointer to future performance, especially when important trends are being repeated. For example, the last time that the digital asset confirmed 8 green candles on the weekly chart, the price exploded not too long after.</p> 
<p class="p1">This is seen back in 2017 right at the start of the bull market where the price went from around $1,100 to $2,900 before a slight pullback. However, once the pullback was over, the price would begin another uptrend that would send Bitcoin above $10,000 for the first time ever.</p> 
<p class="p1">If this trend were to repeat itself this time around, then a pullback from this level is likely, but not expected to last. The resulting pump from the pullback will likely be the confirmation of the bull market, leading to a <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-400-surge-to-200000/">new all-time high price</a>.</p> 
<p class="p1">Bitcoin has also done incredibly well following 8 green candles on the daily charts. As <a href="https://newsbtc.com/analysis/btc/8-green-candles-in-bitcoin/" rel="nofollow">reported by NewBTC</a>, the Bitcoin price has also risen quickly when these green candles appear. As such, it is an all-around bullish signal for Bitcoin.</p>

8 Green Candles: Here’s What Happened To Bitcoin The Last Time It Appeared

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