Charles Edwards, a seasoned crypto analyst and Capriole Investments founder, shared a bullish macro forecast for Bitcoin (BTC). It is based on a pattern observed in the last three cycles. Should this play out, we are on the verge of a ballistic run of the largest crypto.
Bitcoin (BTC), the first cryptocurrency, is about to enter the "parabolic phase" of its price growth. This stage of its ongoing bull run will start once the crypto king hits $100,000 per coin level, top expert Charles Edwards said to his 113,000 X followers.
Edwards noticed that Bitcoin (BTC) demonstrates such an impressive performance only once in four years. Simply put, every bull run has only one parabolic phase.
In 2018, this phase pushed BTC's price to 481% while, in 2022, it witnessed an almost 600% price spike from the cycle's low.
The lowest point of this cycle was registered in mid-November 2022 at $15,000, when markets were captured by the panic after the FTX/Alameda collapse. BTC's price ha sadded 553% since.
In March 2020, Charles Edwards authored the Bitcoin Energy Value price model. It masterfully predicted the Bitcoin (BTC) price to rally to $100,000 in 2025.
The model is based on the correlation between the electricity expenses of Bitcoin (BTC) miners, electricity price rates and demand for digital gold.
Today, in the early morning hours, Bitcoin (BTC) reached $98,000 on major spot exchanges. By press time, its price is trying to stay above the $97,700 level.
In the last 24 hours, Bitcoin (BTC) traders lost $114 million thanks to liquidations, with almost 70% being short positions.
As covered by U.Today previously, CryptoQuant's CEO Ki Young Ju foresaw the first cryptocurrency dropping below $59,000 by the end of the year.