Bitcoin Price Could Go Parabolic if Weekly Close Surpasses $71.5K – Analyst

January 11, 2025February 6, 2025 EquityExplained

Rekt Capital, a popular trader and analyst, has made a bold prediction about Bitcoin’s (BTC) price action in his latest X post. According to him, if BTC/USD delivers a weekly close above $71,500, it will confirm its "parabolic phase." This statement is based on the observation that Bitcoin has been consolidating for nearly eight months after March’s all-time highs.

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Understanding Re-Accumulation and Parabolic Upside

Rekt Capital explains that a Weekly Candle Close above ~$71,500 would kickstart the breakout from the Re-Accumulation Range. However, he notes that this is not just any ordinary re-accumulation phase. The current cycle has seen an extended re-accumulation period of over 200+ days after the Halving event.

The Post-Halving Re-Accumulation

In his post, Rekt Capital draws a comparison between the current bull market and Bitcoin’s previous breakout year of 2020. During that time, BTC/USD passed $20,000 for the first time after three years of waiting. In contrast, the early record in March resulted in BTC/USD hitting bull market goals earlier than previous cycles.

Reduced Acceleration

Rekt Capital points out an interesting statistic: thanks to Bitcoin’s 200+ day Post-Halving Re-Accumulation, BTC has impressively reduced the acceleration in the cycle from 260 days to only 13 days. This indicates that the lingering rate of acceleration is nowhere close to what it was back in mid-March 2024.

Traditionally Longer Bull Run

What comes next will surprise few longtime market participants: a "traditionally longer bull run." As Rekt Capital concludes, "Nonetheless, a Weekly Close above $71,500 would confirm a transition away from the ReAccumulation phase (red) into the Parabolic Upside phase (green). History suggests it is just about time for it."

BTC/USD Price Action

At the time of writing on Nov. 7, BTC/USD traded at $75,200, per data from Cointelegraph Markets Pro and TradingView, still down 0.5% on the day.

Stablecoin Inflows on Exchanges

Cointelegraph continues to report that BTC price predictions for both the short and long term are growing increasingly ambitious. Some see six figures next, while 2025 is set to deliver $130,000 or more. Meanwhile, data from onchain analytics platform CryptoQuant reveals mass influxes of stablecoins to exchanges – traditionally a sign that an extended crypto bull run is about to hit.

Second-Biggest Stablecoin Influx

Following the US presidential election results yesterday, a substantial $9.3 billion worth of ERC-20 stablecoins were deposited into cryptocurrency exchanges. This marks the second-largest influx of ERC-20 stablecoins since their inception.

Investment Advice and Risks

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. It’s essential to note that the crypto market is highly volatile and unpredictable, and even experienced traders can suffer significant losses.

Conclusion

In conclusion, Rekt Capital’s prediction suggests that if BTC/USD delivers a weekly close above $71,500, it will confirm its "parabolic phase." This could be a sign of an extended bull run, with some predictions suggesting six figures next and 2025 delivering $130,000 or more. However, the crypto market is inherently unpredictable, and readers should exercise caution when making investment decisions.

What’s Next for Bitcoin?

The upcoming weeks will undoubtedly bring significant price action to the cryptocurrency market. Will Rekt Capital’s prediction come true, and will BTC/USD confirm its "parabolic phase"? Only time will tell, but one thing is certain – the crypto community is eagerly anticipating what’s next.

Disclaimer

This article is for informational purposes only and should not be considered as investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.