Bitcoin on the Brink of Parabolic Growth

Analysts have identified three key indicators signaling the onset of a parabolic growth phase for Bitcoin, potentially driving its price to $240,000.

The first indicator is that on October 21, Bitcoin surpassed a crucial resistance barrier at $68,419. Holding above this level will indicate the end of the consolidation that began in late 2022.

The second indicator is that crypto whales have started accumulating BTC, reminiscent of the buying spree in 2020 following the price drop due to the pandemic. They are anticipating a new bullish rally.

The third indicator is the decline in stablecoin reserves. Analyst Doctor Magic noted a drop in the market capitalization of Tether (USDT), USD Coin (USDC), and Dai (DAI) since September 2024, suggesting that stablecoins are being exchanged for fiat currency and used to buy Bitcoin.

If the parabolic growth scenario materializes, Bitcoin's price could reach $240,000 by spring 2025, allowing investors to nearly quadruple their capital based on current prices.