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Opinion: Bitcoin could enter the fourth cycle of parabolic growth

UNITED STATES, WASHINGTON (OBSERVATORY) — Well-known trader and tech analyst Peter Brandt does not exclude that the first cryptocurrency entered the fourth cycle of parabolic growth and will reach new price highs on this wave.

He posted the corresponding schedule on Twitter, responding to a record by Global Macro Investor CEO Raul Pal, who suggested that now may be the last chance to buy bitcoin at a low price.

The fact that Bitcoin is in its fourth parabolic phase since 2010, Peter Brandt announced back in June of this year, noting then that no other market in his 45 years of trading looked like this on a logarithmic chart.

At the same time, in his opinion, the mark of $ 100,000 is a long-term goal of the price of the first cryptocurrency.

NebraskanGooner, however, recommends that investors exercise caution.

“We’ve seen this before,” he wrote, adding a link to one of his previous tweets.

In it, he writes that many correlations can be made between the ends of the bear markets in 2015 and 2018, while the imposition of the pattern hints that the next price record may take place on May 27, 2020, that is, immediately before the next bitcoin halving.

Recall that at the end of August, the bitcoin hashrate once again this year reached a new historical record, reaching 83.526 EH / s.

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