Bitcoin Price Enters Parabolic Phase Of Cycle After Surge To $98,000 – Analyst

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As a seasoned analyst with over two decades of experience in financial markets, I’ve witnessed numerous bull and bear cycles across various asset classes. The current Bitcoin price action is reminiscent of some parabolic moves I’ve seen in tech stocks during the dot-com boom.

The cost of Bitcoin has repeatedly challenged barriers at around $95,000 as it strives to exceed the predicted record high of $100,000. After hitting $98,000, a cryptocurrency expert believes that Bitcoin’s price has now entered the parabolic phase in this four-year market trend.

Bitcoin Price Enters Parabolic Phase

As a crypto investor, I’m thrilled to share that Rekt Capital, a well-respected figure in our community, has announced to his 517,800 followers on X (previously Twitter) that Bitcoin, the leading cryptocurrency, has entered its “Parabolic Upside phase” during this current bull cycle. He supported his claim by posting a chart demonstrating Bitcoin’s price movement during the 2021 bull run and our present cycle, suggesting we might be in for an exciting ride.

Following the halving in 2022, Bitcoin underwent a substantial surge that propelled it to surpass its 2021 record high of more than $64,000. Prior to this upward trend, Bitcoin had experienced a notable downturn before fully transitioning into its bullish growth period.

It’s worth noting that a pattern similar to what we’ve seen in this bull market is emerging, potentially indicating further price surges. Over the past few months, Bitcoin’s price has moved into a phase of gradual decline and consolidation followed by an upward swing above $99,000.

According to Rekt Capital, when Bitcoin reached $98,000, it moved into a steep upward trend, often referred to as the parabolic rise phase. This trend implies that Bitcoin might continue to climb further, aligning with analyst predictions during this bullish market cycle.

On November 27th, Rekt Capital posted an update showcasing the crypto asset’s advancement towards the parabolic stage. He highlighted that the cryptocurrency was approaching a phase of exit from reaccumulation and moving into the upward parabolic trend, as suggested by the green area visible on the price graph.

Bitcoin Price: $100,000 ATH – Now Or Never  

The crypto world is currently enjoying a strong upward trend, with many experts and investors believing that Bitcoin’s value could reach as high as $100,000. In fact, Bitcoin has come close to reaching this milestone, with its price surging above $98,000 at certain points over the past week.

A well-known cryptocurrency expert known as Crypto Trader on platform X predicts that Bitcoin could soon hit $100,000. He emphasizes that the countdown is on, suggesting that we’re very near to seeing Bitcoin break through this significant milestone in its current phase.

A Crypto trader predicts that Bitcoin will soon exceed its previous record of $100,000. However, despite his positive perspective on Bitcoin, he has also shown a chart indicating that if the bearish market prevails, Bitcoin might plummet to around $46,757.

right now, the value of Bitcoin is being exchanged for approximately 96,965 dollars. This represents a 1% rise compared to its price over the last day, as reported by CoinMarketCap.

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2024-12-01 09:04