Bitcoin is currently experiencing a strong surge, with its price hovering above $109,000 and showing signs of reclaiming its all-time high. Over the past week, the leading cryptocurrency has gained over $3,000, indicating a bullish momentum that is spreading across the broader crypto market.
Renowned crypto analyst Merlijn The Trader recently shared a technical analysis on social media, suggesting that Bitcoin has entered its third parabolic phase. Drawing parallels to previous market cycles in 2017 and 2021, Merlijn’s analysis indicates that Bitcoin’s current price structure is following a familiar pattern of prolonged consolidation followed by a gradual upward movement.
The analyst’s chart highlights a trend of three red bowl-shaped curves leading into a green “Parabolic Phase” box, symbolizing the final leg of each bull run. The price action in 2024 and 2025 aligns with this pattern, with Bitcoin bouncing off the lower arc during its recent dip to $74,000. This rebound is seen as a strong indication that the final breakout phase is on the horizon.
Merlijn warns that there may not be second chances for investors waiting on the sidelines. The analyst predicts a potential price target of $335,000 for Bitcoin in 2025, representing a significant 205% rally from current levels. Even the mid-region of the box, around $150,000, presents a conservative target that exceeds Bitcoin’s current price.
Based on historical data from previous parabolic runs, which saw Bitcoin surge over 2,000% in 2017 and more than 1,300% from its 2020 lows to its 2021 peak, the path to $335,000 seems plausible. As of the latest update, Bitcoin is trading at $108,850, with an intraday high of $109,574.
In conclusion, Bitcoin’s price movement is closely monitored by traders and analysts alike, with the potential for another historic climb to new price targets in the coming years. The market’s current bullish momentum suggests that Bitcoin may be on track to reach new heights, making it an exciting time for crypto enthusiasts and investors.