Bitcoin (BTC) Has Entered the Final Phase of Its Halving Cycle, Parabolic Uptrend May Be Imminent
- Susan SarandonOriginal
- 2024-11-10 15:30:46428browse
According to an analysis by Rekt Capital, Bitcoin (BTC) has entered the final phase of its halving cycle. Bitcoin recently broke out of its re-accumulation range
Bitcoin (BTC) price recently breached the upper boundary of its re-accumulation range, signaling an imminent transition into the parabolic phase of the halving cycle. This phase has historically seen BTC experience its most substantial price gains, typically lasting over a year.
As highlighted by Rekt Capital in a recent tweet, Bitcoin is currently positioned within the final stage of the halming cycle. BTC recently broke out from its re-accumulation range, setting the stage for a transition into the parabolic phase of the cycle.
Historically, this phase has seen Bitcoin experience its most substantial price gains, often lasting over a year.
Within the first phase of the cycle, Bitcoin tends to experience significant retracements before halving. In 2024, BTC saw two retraces of 18% each. Afterward, the asset experiences a re-accumulation phase, where its price consolidates within a specific range.
The re-accumulation phase sets the stage for the parabolic uptrend. However, investors often grow impatient during this period due to minimal price movements.
Once Bitcoin breaks out from the upper boundary of the re-accumulation range, it signals the onset of the parabolic phase. This phase has seen accelerated growth, pushing BTC to new all-time highs.
According to Rekt Capital, previous parabolic phases have lasted around 385 days. However, given the current market conditions, an accelerated cycle could reduce this duration.
Bitcoin is currently trading at $75,982.92, with a market capitalization of over $1.5 trillion. Despite a minor 24-hour dip of 0.03%, bullish sentiment still dominates the market.
The Crypto Fear and Greed Index remains at 75, indicating strong investor confidence. Additionally, Bitcoin dominance has decreased by 3.65%, potentially signaling a shift in focus toward altcoins.
Institutional activity has also surged, with options interest and CME BTC futures positions seeing significant increases. Furthermore, Bitcoin exchange balances continue to decrease, serving as a bullish indicator as investors move their holdings to cold storage.
Changellyblog analysts have projected that BTC could hit a minimum of $59,821.02 by December 2024. The maximum projected peak for the month is $84,052.07, with an average trading value of $71,936.55.
These projections align with historical post-halving trends, which have consistently led to substantial rallies. Bitcoin’s strong fundamentals, coupled with reduced selling pressure, suggest a bullish outlook for the coming months.
As BTC’s trajectory indicates, it is on the brink of a parabolic uptrend. With historical patterns and market dynamics aligning, the stage is set for substantial growth.
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