Lambo line indicator: Is this the start of a bullish run for bitcoin?

This valentine season has brought more joy to Bitcoin lovers and investors as it has been doing since 2015. The Lambo line indicator seems to have a connection with bitcoin concerning its mention on Reddit. There appears to be a positive vibe in the air for bitcoin lovers as the number of mentions on Reddit for the super sports car, is a precise prediction of a bullish bitcoin move. This trend is observed in the 2009 Bitcoin bullish move when the mentions of the Lambo line also soared.

Similarly, the trend was getting repeated in the 2020 parabolic price rally. From the Reddit mention query, the Lambo line indicator was a focal point on some related cryptocurrency subreddits.

Lambo line indicator and Bitcoin correlations

Behind the price of Bitcoin’s movement, the Lambo line was a lagging indicator trailing the world’s leading crypto. However, from the data released by data analyst David Gilbert of ChartStar, it clearly shows that the Lambo line indicator was on two separate occasions, a front runner for bitcoin assets.

This close contention is not the first time that the leading crypto will have correlations with assets that are not crypto-related. Bitcoin was a subject of mentions in media coverage around the world for its 2017 price rally that was similar to the Tesla Stocks. Also, the leading crypto was equally noticed by social media for its close contention with Avocado fruit prices.

Is it the beginning of a new trend?

The Lambo line indicator in the Reddit mentions of the Bitcoin, however, came close to being an accurate leading indicator. Looking at the data released by ChartStar as regards the Lambo line indicator and bitcoin, which has witnessed a surge in the Lambo mentions, market analysts are wondering if this could usher in an era of an upward swing for a bullish run of bitcoin. The next events can be unpredictable but could serve as the beginning of a new trend.

Featured image by Pixabay.