Cryptocurrency

Bitcoin

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 <p class="paragraph">At the end of 2023, Bitcoin (BTC) is starting to consolidate the impressive gains it accumulated in recent weeks but is still trading around the massively important psychological level of $43,000, with its historical <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> action suggesting a specific period when it could go <a rel="noopener noreferrer nofollow" title="parabolic" href="https://thebittimes.com/tag/parabolic.html">parabolic</a>.</p>
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 <p class="paragraph">Specifically, the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> action of Bitcoin following Christmas week in 2022 was “similar to that in 2014, in which the macro bottom is very near the date,” as the pseudonymous cryptocurrency expert Trader Tardigrade pointed out in a chart pattern <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> shared in an X post on December 27.</p>
 <p class="paragraph">As the crypto market analyst added, in one year’s time, the flagship decentralized finance (DeFi) asset “consolidated and trended upside to 2023 and 2015,” after which it “went parabolic in the following 2 years,” suggesting the same could take place this time around as well, or in 2025 and beyond, pushing BTC toward $280,000.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/YR9ei0kOnzESSoKt-HLVrhFG7GrYM20GZIn4wcf6j3OVuGmm4muTMCX5bxMjRBmWQa2slfCdF12ixDu20HWbg--Zl2srIq3xVyM598OzXQMaNhvmUDdiumK4DJU5rVBDjJiBDOkKUEdFsZPqm_taqiQ" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin price action analysis over years. Source: </em><em>Trader Tardigrade</em>
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 <p class="paragraph">Meanwhile, it is also worth noting that the latest purchase of $615 million worth of the asset by the Bitcoin-enthusiastic company MicroStrategy has triggered a wave of enthusiasm among crypto traders, leading to a “bullish market movement,” according to the observations by <em>Santiment</em><em> </em>on December 28.</p>
 <figure class="wp-block-image aligncenter is-resized"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/OItpCwVz_L6yKhnhOLQmL3wGFqjiKh9wbiECgbhTSF_MbAt15MScB7j_lKMQvAgB6J4rvUNkau13c4Rd6PLnHwQYb7Wn6RXe-LSw3QvSd8ZWYJ_7czXjgY0maGof1jmGId2Vnlg07zZo56NJ7dpHThI" alt width="834" height="578">
  <figcaption class="wp-element-caption"><em>MicroStrategy’s BTC purchase effect on Bitcoin price. Source: </em><em>Santiment</em>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
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       <h3 class="font-bold leading-6 " id="bitcoin-price-prediction-for-2024">Bitcoin price prediction for 2024</h3>
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 <p class="paragraph">As things stand, the largest asset in the crypto sector by market capitalization is presently changing hands at the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $43,090, recording a 1.87% decline across the previous seven days but still holding onto an advance of 15.75% on its monthly chart while climbing 158.38% over the past year.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/59aP-LGzDoGR0O-eVZdvf4nnXawDhV6nXLJ4_R2z21BqbVqrs9Rs192ZU-Ma5LXAZz6YQ0vanmE5UHLLo2rT_B_BMANZBK59UERIH0s_f7Ecmbu2LxhyQQi4A-jND2UZ-hSNi0PCOIQr5U3H0Txw5pQ" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin year-to-date (YTD) price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Overall, if history repeats itself, Bitcoin could, indeed, end up going parabolic in the predicted time period, especially considering the positive influences such as the approval of the first spot Bitcoin exchange-traded fund (ETF) and the halving that should take place in April 2024.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-s-when-bitcoin-price-could-go-parabolic-tbt75001.html">https://thebittimes.com/here-s-when-bitcoin-price-could-go-parabolic-tbt75001.html</a></p>

Here’s when Bitcoin price could go parabolic

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TheBitTimes

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