The post Bitcoin Enters Parabolic Phase After Surge To $98K: Analyst appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. The Bitcoin price has continually tested resistance levels above $95,000 in its pursuit to reach and surpass the anticipated $100,000 all-time high. Following its surge to $98,000, a crypto analyst has asserted that the BTC price has officially entered the parabolic phase of this four-year market cycle.  Related Reading Bitcoin Price Enters Parabolic Phase Popular crypto analyst Rekt Capital has declared to his 517,800 followers on X (formerly Twitter) that Bitcoin, the world’s largest cryptocurrency, has officially and completely transitioned into its “Parabolic Upside phase” this bull cycle. The analyst shared a chart illustrating the coin’s price action during the 2021 bull run and the current bull cycle. After its halving event in 2022, the Bitcoin price experienced a massive rally that pushed it to its 2021 all-time high of over $64,000. At the time, Bitcoin had experienced a significant correction before fully entering its bullish upside phase.  Interestingly, a similar trend can also be seen in this bull cycle, signaling a possibility of more price rallies. In the last few months, the BTC price entered a re-accumulation phase characterised by slight declines and consolidation before recording a subsequent rally above $99,000.  Rekt Capital disclosed that after BTC hit $98,000, the pioneer cryptocurrency had successfully entered its parabolic upside phase. This phase suggests that Bitcoin could rise even higher, matching analysts’ expectations in this bull market.  On November 27, Rekt Capital also shared a post illustrating the crypto asset’s steady progression into the parabolic phase. He pointed out that the cryptocurrency was on the verge of exiting a reaccumulation phase and transitioning into the parabolic upside, as indicated by the green zone on the price chart.  Bitcoin Price: $100,000 ATH – Now Or Never   The crypto community is on an intense bullish ride,…

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Filed under: News - @ December 1, 2024 6:04 am