Analysts have named three signs of the onset of the parabolic growth phase of the bitcoin #exchange rate, during which the cryptocurrency should rise in price to $240,000.
Kush Alemzadeh published a logarithmic chart showing that on October 21, the bitcoin price overcame a key resistance barrier at $68,419. A consolidation above this barrier would mark the end of the #consolidation period that emerged at the end of 2022.
Secondly, experts from the analytics company CryptoQuant noticed that cryptocurrencies began to behave exactly the same way they did in 2020 after the sharp drop in the value of $BTC
amid the start of the coronavirus pandemic. Just like four years ago, crowdfunders are actively buying up coins, waiting for the start of the bull rally.
And finally, thirdly, the stock of #Stablecoins is drying up. An analyst, known under the pseudonym Doctor Magic, recorded a drop in the capitalization level of the leading cryptocurrencies with a stable rate Tether (USDT), USD Coin ($USDC
) and Dai (DAI), which began in September 2024. This fact indicates that traders are exchanging stablecoins for fiat currency and spending the proceeds to buy bitcoins and other digital assets.
If the scenario of the parabolic growth phase of bitcoin price, which is based on historical data, works out, #BTCâ will rise to $240,000 by the end of spring 2025. In this case, buying coins at their current value will allow you to increase your capital almost three and a half times.
