Bitcoin Enters Parabolic Phase After Surge To $98K: Analyst
Bitcoin price keeps testing resistance above $95,000, aiming to reach and surpass All-time high $100,000 expected. After surging to $98,000, one cryptocurrency analyst asserts that BTC price has officially entered a parabolic phase four-year market cycle.
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Bitcoin price enters parabolic phase
Popular cryptocurrency analyst Rekt Capital has Announce He told his 517,800 followers on X (formerly Twitter) that Bitcoin, the world’s largest cryptocurrency, has officially fully transformed into “Bitcoin.”parabolic rise phase” this bull cycle. Analysts shared a chart illustrating Coin’s price action During the 2021 bull market and the current bull market cycle.
thereafter Halving event In 2022, Bitcoin prices experienced a significant increase, reaching an all-time high of over $64,000 in 2021. At the time, Bitcoin experienced a sharp correction before fully entering a bullish uptrend phase.
Interestingly, a similar trend can be seen during this bull cycle, suggesting further price gains are likely. Over the past few months, BTC prices have entered reaccumulation stage It is characterized by small declines and consolidation before subsequent moves are recorded. Rebound above $99,000.
Rekt Capital revealed that the pioneer cryptocurrency has successfully entered a parabolic rise phase after BTC hit $98,000. This phase suggests that Bitcoin could rise even higher, in line with analysts’ expectations for this bull run.
On November 27, Rekt Capital also shared a post It shows that crypto assets are steadily entering a parabolic phase. He noted that the cryptocurrency is about to exit the re-accumulation phase and transition to a parabolic rise, as indicated by the green area on the price chart.
Bitcoin Price: $100,000 – Now or Never
Analysts and investors generally agree that the cryptocurrency community is in the midst of a strong bullish rally Anticipate Bitcoin price surges to $100,000. The leading cryptocurrencies have been trading Just under the $100,000 markthe price rose above $98,000 at one point in the past week.
One crypto analyst identified as a crypto trader on X is capitalizing on this strong bullish trend, Announce “Time is ticking” for Bitcoin to reach $100,000. His statement highlights how close Bitcoin is to reaching milestones in this cycle.
Crypto Trader also said that it is only a matter of time before Bitcoin breaks through its expected all-time high of $100,000. Although analysts have maintained Optimistic about the future of Bitcoinhe also provided a price chart indicating that the cryptocurrency could experience a crash If the bears take over, it will reach $46,757.
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Bitcoin price is currently trading at $96,965, up 1% in the past 24 hours, according to CoinMarketCap.
Featured images from Pexels, charts from TradingView
