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Bitcoin price has been continuously testing resistance levels above $95,000, aiming to reach and exceed an expected all-time high of $100,000. Following the surge to $98,000, crypto analysts claimed that BTC price has officially entered the parabolic phase of this four-year market cycle.
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Bitcoin price enters parabolic phase
Popular crypto analyst Recto Capital told his 517,800 followers on It was declared that the transition was complete. The analyst shared a chart showing the coin's price movement during the 2021 bull market and the current bull cycle.
After the 2022 halving event, Bitcoin price experienced a massive rally, reaching an all-time high of over $64,000 in 2021. At the time, Bitcoin was undergoing a significant correction before entering a full bullish rally.
Interestingly, a similar trend has been observed in this bullish cycle, suggesting the potential for further price increases. Over the past few months, BTC price has entered a reaccumulation phase characterized by a slight decline and consolidation, before recording a rally above $99,000.
Rekt Capital revealed that the pioneering cryptocurrency has entered a parabolic rally after BTC hit $98,000. This stage suggests that Bitcoin could rise further and match analyst expectations in this bull market.
On November 27, Rekt Capital also shared a post indicating that crypto assets are steadily progressing towards a parabolic phase. He pointed out that cryptocurrencies are about to exit the re-accumulation phase and enter a parabolic uptrend, as indicated by the green zone on the price chart.
Bitcoin Price: $100,000 ATH – Now or never?
The cryptocurrency community is in an intensely bullish mood, with analysts and investors widely expecting Bitcoin prices to soar to $100,000. The leading cryptocurrency is trading just short of the $100,000 milestone, and at one point last week experienced a price increase of more than $98,000.
BTCUSD is currently trading at $96,304. Chart: TradingView
A cryptocurrency analyst identified as Trader of Crypto at X is capitalizing on this strong bullish trend and announced that “the clock is ticking” for Bitcoin to reach $100,000. His remarks highlight how close Bitcoin is to milestones during this cycle.
Traders of Crypto also stated that it is only a matter of time before Bitcoin breaks through the expected all-time high of $100,000. While the analyst maintains a bullish outlook on Bitcoin, he also provided a price chart that suggests Bitcoin could crash towards $46,757 if the bears take over. did.
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Bitcoin price is currently trading at $96,965, up 1% in the past 24 hours, according to CoinMarketCap.
Featured images from Pexels, charts from TradingView
