{"id":24807,"date":"2024-12-01T06:00:59","date_gmt":"2024-12-01T06:00:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24807"},"modified":"2024-12-01T06:00:59","modified_gmt":"2024-12-01T06:00:59","slug":"bitcoin-price-enters-parabolic-phase-of-cycle-after-surge-to-98000-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24807","title":{"rendered":"Bitcoin Price Enters Parabolic Phase Of Cycle After Surge To $98,000 \u2013 Analyst"},"content":{"rendered":"

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<\/a>. 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<\/a>.\u00a0<\/p>\n

Bitcoin Price Enters Parabolic Phase<\/h2>\n

Popular crypto analyst Rekt Capital has declared<\/a> to his 517,800 followers on X (formerly Twitter) that Bitcoin, the world\u2019s largest cryptocurrency, has officially and completely transitioned into its \u201cParabolic Upside phase<\/a>\u201d this bull cycle. The analyst shared a chart illustrating the coin\u2019s price action<\/a> during the 2021 bull run and the current bull cycle.<\/p>\n\n

After its halving event<\/a> 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.\u00a0<\/p>\n

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<\/a> characterised by slight declines and consolidation before recording a subsequent rally above $99,000<\/a>.\u00a0<\/p>\n

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\u2019 expectations in this bull market.\u00a0<\/p>\n

On November 27, Rekt Capital also shared a post<\/a> illustrating the crypto asset\u2019s 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.\u00a0<\/p>\n

Bitcoin Price: $100,000 ATH \u2013 Now Or Never\u00a0\u00a0<\/h2>\n

The crypto community is on an intense bullish ride, as analysts and investors widely anticipate<\/a> the Bitcoin price surge to $100,000. The leading cryptocurrency has been trading just shy of the $100,000 mark<\/a>, experiencing a price increase above $98,000 at some point in the past week.\u00a0\u00a0<\/p>\n

A crypto analyst identified as Trader of Crypto on X is tapping into this strong bullish trend, announcing<\/a> that \u201cthe clock is ticking\u201d for Bitcoin to reach $100,000. His statement underscores how close Bitcoin is to reaching the milestone during this cycle.<\/p>\n\n

Trader of Crypto has also stated that it is only a matter of time before Bitcoin breaks past the anticipated $100,000 all time high. While the analyst has maintained a bullish outlook on Bitcoin<\/a>, he has also presented a price chart that suggests that the cryptocurrency could experience a crash<\/a> towards $46,757 if bears take over.\u00a0<\/p>\n

The Bitcoin price is currently trading at $96,965, marking a 1% increase in the past 24 hours, according to CoinMarketCap.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

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.\u00a0 Bitcoin Price Enters Parabolic Phase Popular crypto analyst […]<\/p>\n","protected":false},"author":0,"featured_media":24808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24807"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24807"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24808"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}