- Bitcoin (BTC) sets new ATH at $93,434.36.
- This spurs expectations for a $100,000 BTC ATH price to arrive soon.
- Analyst believes BTC is only in week 2 of its parabolic pump which could go to 385 days.
Pioneer cryptocurrency, Bitcoin (BTC), has gone on to set another bullish new ATH at $93,434.36 from its previous ATH set at the $89,956 price range. Analysts are delighted to see BTC price break through the $90,000 barrier in such a short time and expect $100,000 to follow suit.
Bitcoin Sets New ATH, $100,000 Next?
Presently, the price of Bitcoin (BTC) is back under the $90,143 price mark as it sits at $89,631. This seems to be a continued correction phase where the price of BTC will continue to set higher highs and lower lows until it breaks through the $100,000 price level.
Many analysts began Q4 certain that the price of Bitcoin (BTC) would hit new highs in the 6-digit target by the end of Q4. At the moment, Bitcoin has gotten quite close to this target as we approach the middle of Q4. Indeed, it seems more likely that a 6-digit BTC price may be upon Bitcoin soon.
However, with the BTC numbers growing high, even small corrections are wiping out millions and billions in the crypto trading realm. Yet, the institutional interest in Bitcoin is allowing the market to recover and grow at a much faster rate than ever before. The strong support and adoption for crypto grow further with Trump winning the US Presidential elections.
Bitcoin’s Parabolic Pump Phase Begins
At the moment, one analyst believes that the Bitcoin chart history suggests the start of a parabolic phase in the BTC bull cycle. He says that this phase can last up to 385 days and that Bitcoin is only in week 2 of its current parabolic phase. This draws light to the many bull cycle predictions for BTC price this cycle, ones that go as high as $550,000.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
