Jakarta, Pintu News – Cryptocurrency markets often run in cycles that have similar patterns – and right now many observers see that Pi Network (PI) is showing signs reminiscent of the early phases of the Bitcoin surge. With the latest price data, we can identify five specific patterns that may signal that PI is entering a similar growth phase. Here’s the analysis!
In the early years of Bitcoin, prices were still very low – for example, in 2010 BTC went from around $0.10 to $0.20 in one month. After a sideways period, a breakout occurred. At PI, the current price is in the range of $0.22 – $0.25. Trading volumes are starting to show a surge (~$30 million a day) and this consolidation pattern could be a signal that a big breakout awaits.
Consolidation stages often come before exponential rises. For investors, recognizing this phase is important in order to enter before the main momentum. If Bitcoin’s history is anything to go by, a medium-term consolidation below US$1 could be followed by a sharp upward acceleration.
Bitcoin has recorded steadily rising volumes prior to its big rally periods – for example, rising from US$900 in late 2012 to thousands of dollars in 2013. For PI, despite its infancy, data shows 24-hour volume rising to ~$35 million-$40 million with a market capitalization of around $1.8 – 4 billion. This growth in volume and capitalization is often an early indicator that the project is starting to be taken seriously.
As the community becomes more active, not just for speculation, but also for mining, validation, or utility, the token has a chance to surge. For PI, if volumes continue to rise in parallel with ecosystem integration, this pattern could resemble BTC’s initial surge.
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One of the major catalysts for Bitcoin in its history has been the halving of rewards, as well as institutional adoption and the launch of derivative products like ETFs. PI is also currently entering the “Open Mainnet” phase or the advanced version of the protocol. If this launch goes smoothly and adoption follows, then the catalyst effect could be equivalent.
Historical Bitcoin investors often respond to big technical news much faster than pure regulatory events. As such, if PI successfully completes a major technical phase and gains widespread listing, the potential for a sharp rise could arise – similar to what happened to Bitcoin.
Bitcoin has a maximum of 21 million units which makes it a deflationary asset and store of value. Although PI has not had such a long history, circulating information notes that the circulating supply is around 8.3 billion PI with a maximum total of up to 100 billion PI. Expectations that supply will not “flood” and adoption will rise could create the same effect: significant value appreciation.
When the market realizes that a token has a relatively manageable combination of utility, community, and supply, then appreciation patterns like those experienced by Bitcoin could reappear-albeit on a different scale and context.
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Bitcoin has shown that price spikes from tens of dollars to hundreds, even thousands, are a natural part of its growth cycle. For example, BTC was hovering around $15 before skyrocketing to over $200 and continuing to rise as adoption increased.
For Pi Network (PI), psychologically important points such as $0.50 or even $1 could signal the start of a major rally, especially if supported by technical progress and ecosystem growth. Currently, PI price is still moving in the $0.22-$0.25 range, signaling an accumulation phase that could potentially lead to the next momentum.
A move past resistance could trigger FOMO (fear of missing out) and attract new investors – the same phenomenon that once drove Bitcoin’s huge surge. If PI is able to break the key level and continue to maintain the uptrend, then a similar pattern could form.
While these patterns show similarities between Bitcoin’s early phase and the current state of PI, it’s important to remember that history is no guarantee of the future. The crypto market remains highly volatile and is influenced by many factors: regulation, adoption, technology, and global sentiment.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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