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Bitcoin

Bitcoin Preparing To Enter A Parabolic Growth Phase Shortly, Here’s How

Godspower Owie
by Godspower Owie
10 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Several recent bullish predictions from seasoned crypto analysts imply that Bitcoin might undergo another massive rally in the upcoming days, which may trigger a move to unprecedented levels. This anticipated move suggests a transformative period for the largest crypto asset as the general market sentiment improves.

Bitcoin’s Dynamics Points To A Parabolic Path

Considering current price action, Mags, a market expert and trader, claims Bitcoin seems poised for a significant bull market, hinting at a potential entry into a parabolic growth phase. Given the growing optimism in Bitcoin, the crypto asset’s recent price moves and key indicators point to the start of a major upside rally, allowing BTC to reach unprecedented levels.

Related Reading: Bitcoin Undergoes Multiple Major Breakout: A Super Cycle For BTC Imminent?

Furthermore, this anticipated growth phase aligns with trends observed in past market cycles that bolstered previous bull runs like the 2017 and 2021 rallies to a market top. Mags’ prediction hinges on BTC’s potential to replicate this past trend, triggering a similar price performance as seen in these cycles.

Following Bitcoin’s move to the 0.618 Fibonacci level, Mags has analyzed the optimistic development with previous occurrences, prompting his claims that BTC is about to go parabolic. During each cycle, the expert highlighted that before breaking out and going parabolic, the price of BTC always encounters a monthly rejection and consolidation below the 0.618 Fibonacci level, which often acts as a strong resistance area.

Bitcoin
BTC set for a parabolic move considering past trends | Source: Mags on X

However, after breaking out of the 0.618 level in this current cycle, the digital asset did not experience any rejection, and the consolidation took place above the aforementioned range, close to the all-time high.

After a long period of consolidation, Mags’ chart reveals that the price of BTC is finally breaking out of the level once again. As a result, the analyst is confident that BTC will rise sharply once again in the upcoming days should history repeat itself.

Meanwhile, as BTC draws closer to the impending parabolic growth phase, investors and traders are advised to adopt a strategic approach due to the volatile nature of crypto assets.

Bearish Weeks On The Horizon For BTC

Bitcoin’s path to a parabolic growth phase might not be an easy one as Michael Van De Poppe, a seasoned crypto analyst and the Chief Information Officer (CIO) of MN Consultancy has warned of a substantial price decline, suggesting a shift in upward momentum. Despite the digital asset showing signs of renewed price strength, Van De Poppe points to vulnerabilities that signal risks of a sharp pullback.

Related Reading: Bitcoin Price Rally Shows Signs Of Correction, Will Key Support Levels Hold?

The market expert claims the upcoming decline may last between 1 to 2 weeks across all markets, urging investors to take pleasure in BTC‘s upward ride for the time being. Van De Poppe’s warning highlights the inherent volatility of Bitcoin, stressing the importance of cautious engagement with the digital asset.

Bitcoin
BTC trading at $91,850 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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