When it comes to the next market high, some predict Bitcoin will reach $200,000. However, this number may not actually meet expectations. For perspective, he's looking for a target well above average, likely in excess of $500,000.
A key factor reinforcing this optimistic forecast is the performance of on-chain metrics such as realized price and two-year realized price. They suggest unusual growth during a bull market. Specifically, the five-month realized price establishes a new strong support level at $60,000.
The five-month realized price, or short-term holder price, is currently $60,000. This would be an aggressive level because if we look at previous bull markets, we see that the price of Bitcoin does not fall below [the five-month realized price]. So that's my personal aggressive lower limit, below which I don't think we'll go any further.
Moreover, the Relative Strength Index (RSI) presents an interesting narrative. It is currently at its pre-halving high and suggests that Bitcoin is entering a parabolic growth phase with unprecedented strength. This departure from the pattern of diminishing returns in previous cycles may indicate a shift toward exponential growth.
In summary, Bitcoin is at a pivotal juncture, supported by a convergence of indicators suggesting its rally is far from over
