Bitcoin price has been in a strong uptrend since Black Thursday. This trend became completely parabolic in the 4th quarter and moved the coin to ATH. However, according to an analyst, BTC is close to the disruption of the parabolic curve that has been supporting the rising momentum for months. So is this the end of the uptrend? Or is it just another touch of parabolic support before jumping to another level?

How is the Bitcoin price going?

Bitcoin price is $ 1,000 below the 2020 peak but sticking to support before the arrival of the new year. The leading cryptocurrency by market cap stands out as the notable investment of the year, bringing positive portfolio performance on a dying dollar background with economic uncertainty.

This perfect storm in cryptocurrency merged with institutions that suddenly realized the asset’s potential as a store of value.

FOMO’s surge from high-end buyers pushed Bitcoin to where it is now, causing the support to take a parabolic shape.

According to a crypto analyst, every correction has been bought in great rage in the last few months, the price action has risen almost flat, which could lead to the first break of the parabolic curve.

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Bitcoin’s uptrend started in December 2019 or Black Thursday depending on how you look. The black swan incident was an anomaly and the crypto asset continued to climb directly after that.

Whatever happened, it caused the largest acquisition opportunity in the history of the asset, generating a 500% ROI in just one year.

However, breaking the parabolic curve can lead to a temporary bearish phase. Or it can just as easily cause the being to climb further in an upward orbit.

Past examples of parabolic curves show both results. While the parabolic curve continued in 2016, it broke in 2019, resulting in a market of shame for several months.

Another parabolic shape may be losing support right now, but what scenario will come next? Considering how strong the uptrend is with little correction, a short term trend change is possible.

Just like Black Thursday, tremors attract new investors and keep prices up in a healthy way. When assets rise too quickly, divestitures are just as bad. For now, we continue to watch how the price action takes shape.


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