Bitcoin’s Parabolic Run: Could This Be Just the Beginning?

A prominent market analyst is optimistic about Bitcoin's future, following its substantial gains over the past month.

Rekt Capital says that Bitcoin is entering the early stages of what he describes as a “parabolic phase” in its price cycle. Historically, this phase tends to last around 300 days, indicating that Bitcoin’s current rally might still have significant room to grow.

Rekt Capital notes that Bitcoin’s parabolic movement has just begun, marking only 16 days into the cycle so far. The cryptocurrency’s value currently stands at $97,465, reflecting an impressive 45% surge over the last 30 days.

Drawing comparisons to previous bull cycles, he highlights that in 2017, Bitcoin advanced for eight weeks before experiencing a notable correction. Similarly, in the 2020-2021 cycle, it took four weeks of upward momentum before a pullback occurred. By this measure, the current cycle remains early, with just three weeks of gains recorded so far.

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The trader also cautions that Bitcoin’s ultimate peak could be unpredictable, likely occurring when market participants least expect it.

Kosta Gushterov