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Bitcoin price is constantly testing the resistance levels above $95,000 in its quest to reach and surpass the resistance level The expected $100,000 is an all-time high. After rising to $98,000, a cryptocurrency analyst has confirmed that BTC price has officially entered the parabolic phase of this year. Four-year market cycle.
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Bitcoin price enters the parabolic phase
Popular cryptocurrency analyst Rekt Capital has Announce to his 517,800 followers on X (formerly Twitter) that Bitcoin, the largest cryptocurrency in the world, has officially and completely moved to “Parabolic rise phase“This is a bull cycle. The analyst shared a chart illustrating this Currency price movement During the bull run of 2021 and the current bull cycle.
after that Half happened In 2022, the price of Bitcoin saw a massive rally that pushed it to an all-time high in 2021 of over $64,000. At that time, Bitcoin experienced a major correction before fully entering its bullish bullish phase.
Interestingly, a similar trend can also be seen in this bull cycle, indicating the potential for further price hikes. In the past few months, the price of BTC has entered a level Reaccumulation phase It is characterized by slight dips and coherence before a subsequent recording Rising above $99,000.
Rekt Capital revealed that after BTC reached $98,000, the leading cryptocurrency successfully entered its parabolic bull phase. This stage indicates that Bitcoin may rise higher, consistent with analysts’ expectations in this bull market.
On November 27, Rekt Capital also did A post shared before It shows the steady progress of crypto assets in the parabolic phase. He indicated that the cryptocurrency was about to exit the reaccumulation phase and move into a parabolic uptrend, as indicated by the green area on the price chart.
Bitcoin Price: $100,000 Ethereum – Now or Never
The cryptocurrency community is witnessing an intense bull ride, as are analysts and investors on a large scale expected Bitcoin price rises to $100,000. The leading cryptocurrency has been traded Just shy of the $100,000 marksaw prices increase above $98,000 at some point last week.
A cryptocurrency analyst identified as Trader of Crypto on advertisement The clock is ticking for Bitcoin to reach $100,000. His statement underscores how close Bitcoin is to reaching this milestone during this cycle.
Trader of Crypto also stated that it is only a matter of time before Bitcoin surpasses the expected $100,000 all-time high. While analyst A. confirmed: The bullish outlook for BitcoinHe also provided a price chart indicating the potential for the cryptocurrency to do just that Accident experience About $46,757 if the Bears take over.
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Bitcoin’s price is currently trading at $96,965, which represents a 1% increase over the past 24 hours, according to CoinMarketCap.
Featured image from Pexels, chart from TradingView
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