If we are to believe pseudonymous analyst Rekt Capital, Bitcoin is almost in the parabolic phase. That would mean that we can welcome even higher prices for Bitcoin in the short term. “This is the moment when Bitcoin breaks out into the parabolic phase of the cycle,” Rekt Capital says on YouTube.
Please be patient for a few more days
According to Rekt Capital, we still have to be patient for a few more days before Bitcoin can enter the parabolic phase. “We still need a full confirmation because technically we can still see Bitcoin dip to $60,600 to test the re-accumulation range as a new support,” the analyst said.
So, it’s possible we’ll see a dip in Bitcoin, but the bottom line is that Rekt Capital is bullish on the market.
For now, it seems particularly important that Bitcoin can break through the strong resistance around $65,000, which is the resistance that has been pointed out by almost every analyst so far.
If we manage to break through that, we can probably look even further up and possibly also rise towards new all-time highs with Bitcoin, as Rekt Capital seems to predict at least.
When does the Bitcoin price peak?
As for the absolute peak for this cycle, we still have a while to rise, concludes Rekt Capital. He does not expect the absolute peak for the Bitcoin price until the second half of 2025.
“Once we break that old all-time high, it normally takes a while for Bitcoin to peak,” the analyst said. He calculates that in 2012 it took 273 days, in 2016 it took 250 days and in 2021 it took 329 days.
For the Bitcoin price peak, he is also betting on a period of between 250 and 329 days. Although it can always take longer, because the previous cycle was also the first time that it lasted 329 days.
In principle, it can go either way and you should view these types of analyses primarily as a potential scenario, as a guideline for the course, and certainly not as the absolute truth.
Source: https://newsbit.nl/bitcoin-op-weg-naar-parabolische-stijgingen/
