Bitcoin gained a strong momentum that rallied the price above $19K in a very short span of time
The parabolic pattern suggest that Bitcoin price may jump to even more highs but the growth might be slow and steady
The retail investors appear to have entered the Bitcoin space, which may trigger the movement above $20K
Bitcoin On the Verge to Break Top-Bottom
Bitcoin price is the talk of the town today as it is very close to its previous all-time high of $19,665. The price touched as high as above $19,400 and dipped below $19,200 but heading strongly towards the ATH.
At present, the Bitcoin price is trending in a Top-Bottom triangle which is required to be broken upwards to continue the bull run.
The price is trending around the strong resistance at $19,372, which needs to be broken upwards so that the ATH is attained. Bitcoin price stands at $19,156 with again of 1.1 percent at the time of composition.
Bitcoin Follows a Fixed Trend
The Bitcoin price since its inception has been following a trend of going parabolic and later pumping to the next level. At every stage, it touches the highs, dumps forming a wide parabolic pattern and again touches the previous highs.
However, the prime focus is the pump to the next level at the end of each parabolic pattern. As mentioned by one of the crypto analysts Lark Davis, Bitcoin price takes nearly a year to jump to the next level.
If we consider this pattern, BTC price no doubt will surge more than 1000 percent but it might take nearly a year’s time to reach those levels. Therefore, Bitcoin price may touch to new highs, which may be 10 times higher than the current levels, by the end of 2021.
Moreover, the google trend points out an increased interest for Bitcoin in recent days, which in-turn points jump in the possible increase in the retail investors. Therefore on the arrival of the retail investor’s Bitcoin price may attain ATH very soon.