Bitcoin (BTC) to Go Parabolic Once This Happens, Analyst Says

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As a seasoned crypto analyst who has been following the market for years, I find Charles Edwards’ forecast particularly intriguing. His pattern-based approach to Bitcoin’s price movements resonates with me, given my own experiences in this dynamic field.

According to Charles Edwards, a skilled cryptocurrency analyst and the creator of Capriole Investments, he predicts an optimistic long-term outlook for Bitcoin (BTC). This prediction is based on patterns noticed during the last three market cycles. If this trend continues, we may be on the cusp of a dramatic surge for the largest digital currency.

Bitcoin (BTC) to go parabolic after $100,000: Expert

In simpler terms, Bitcoin (BTC), the original cryptocurrency, is predicted to enter a rapid price increase phase, often referred to as the “parabolic phase.” This significant leap in its value will commence once Bitcoin reaches approximately $100,000 per coin, according to well-known crypto expert Charles Edwards, who shared this insight with his 113,000 followers.

Bitcoin has a parabolic phase once every 4 years. The parabolic phase starts after $100K.

— Charles Edwards (@caprioleio) November 21, 2024

Edwards observed that Bitcoin (BTC) showcases remarkable growth approximately once every four years. In simpler terms, each bull market cycle features a single, steep upward trend or parabolic phase.

2018 saw a surge that boosted Bitcoin’s value by approximately 481%. In contrast, during 2022, there was nearly a 600% increase in Bitcoin’s price from its lowest point in the cycle.

In mid-November 2022, during the chaos following the fall of FTX and Alameda, the lowest point in this cycle was recorded at a price of $15,000 for Bitcoin. However, since then, its price has climbed an impressive 553%.

Back in March 2020, Charles Edwards developed a Bitcoin Energy Value pricing strategy. Remarkably, this model foresaw that the value of Bitcoin (BTC) would surge to around $100,000 by the year 2025.

Bitcoin (BTC) price stopped one step away from target

As a researcher, I’ve developed a model that explores the relationship between the electricity costs incurred by Bitcoin miners, fluctuating electricity price rates, and the demand for digital gold. This model aims to shed light on how these variables interact and influence each other within the dynamic landscape of cryptocurrency mining.

This morning, Bitcoin (BTC) hit a record high of around $98,000 on prominent trading platforms. As of the current reporting, its value is attempting to hold above the $97,700 mark.

Over the past day, approximately $114 million was wiped out from Bitcoin (BTC) trading due to liquidations, with a significant 69% coming from short positions.

 

Previously reported by U.Today, CryptoQuant’s CEO Ki Young Ju predicted that the first cryptocurrency would dip below $59,000 before the end of the year.

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2024-11-21 16:06