Bitcoin Entered a Parabolic Phase—Here’s Why the Selling Point is Likely Much Beyond $100K

The post Bitcoin Entered a Parabolic Phase—Here’s Why the Selling Point is Likely Much Beyond $100K appeared first on Coinpedia Fintech News

After the 2021 bull run, crypto markets and Bitcoin experienced a rise in attention and adoption. This also attracted massive bearish waves that lasted for nearly 2 years, which included the collapse of multiple cryptos. However, the space has risen over the FUD and may soon enter a run behind FOMO as the BTC price rally has just begun. 

The post-Bitcoin-halving momentum has geared up, combined with Trump’s victory fueling the Bitcoin price rally. The current ATH is around $89,956.88, which may not remain intact for long as the price is prepared for a colossal rally beyond $100K. The star token has already set up a base at around $70,000 at the beginning of the month, which may elevate the levels beyond the imagination. 

After hitting $100K, What’s next for the Bitcoin (BTC) price rally?

Presently, Bitcoin’s momentum is really very strong and has entered a parabolic phase. As seen in the above chart, Base 2 has gradually levelled up from Base 1. Since then, huge momentum has driven a parabolic uptrend at the current stage. Hence, a well-known analyst, Trader Tardigrade, suggests that the price may consolidate around the $100,000 range to form a Base 3. 

The analyst further believes a strong jump could occur until Base 4, reaching the range of around $180,000. However, the parabolic curve could continue to rise and reach $250,000, which could complete the curve and hit the sell point. Therefore, the Bitcoin bull run has just begun, and hence the token is believed to remain inflated for the next few months and mark eye-catching highs very soon. 

The Bitcoin price has been following a 4-year cycle. While the possibility of a revolution was expected this year, the latest surge kept up the historical pattern. Therefore, the rally until 2030 is believed to undergo a couple of bull and bear markets but the momentum could remain elevated while the bottoms could be higher that the previous one. Therefore, the Bitcoin price may keep surging and reach eye-catching levels regardless of the interim bearish pressure hindering in between.