About 4% of financial advisors in the US expect that the price of Bitcoin (BTC) has a great potential for a $100,000 level in the next few years.

While some crypto traders are bullish on BTC, there are also individuals who do not believe that the crypto-asset could survive the next five-year trading scenarios.

Meanwhile, a few analysts predicted that the leading cryptocurrency by market capitalization would get worse before it gets better prior to the upcoming having in May 2020. But other analysts contradicted that prediction since the worst BTC’s price was recorded above the $6,400 level on December 18^th. That price level is off the mark for those who predicted that the price of the crypto would drop from $5,000 to $4,000 before a rally occurs.

Next to BTC Parabolic Movement Will Lead to $100,000

On January 31st, the BTC/USD pair gained more than 30%. That gain made BTC as the second major investment this year, which is just behind Tesla.

Timeframes are used to determine the characteristics of a BTC bear or bull market. Using timeframes, analysts noted that the entire crypto market would witness the next parabolic run once the $20,000 level is achieved. If you’ll remember in 2017, Bitcoin reached $20,000 from $1,000 level.

Besides, BTC enthusiasts see that the next bull cycle target will be between $80,000 and $100,000.

Bitcoin’s Upward Momentum

Sure thing, no one would complain about the recent trading performance of Bitcoin. In fact, even those who have altcoins in their wallets celebrate the upward momentum of BTC that translates bullishness to crypto space.

Based on the current performance of BTC in the market, there’s no room for not being bullish to the crypto asset.

Crypto trader Galaxy said that the current BTC performance is just the beginning of a 1000% surge. He posted a chart showing that once the crypto broke the previous trendline, it would call for a parabolic run and potentially hit the $100,000 level.

Since February 2019, the crypto trader has been telling the crypto enthusiasts that BTC can reach six figures, and it will happen sooner or later. Once the Bitcoin gained the momentum, the bulls should be ready.

If you have been in the crypto space for a long time, Bitcoin isn’t a stranger when it comes to a parabolic run that goes beyond the standard technical analysis. Based on its current price, a move to $100,000 is possible, especially if the bulls will work harder and maintain their control over the market.

According to seasoned crypto trader Peter Brandt, traders can continue hoping for further BTC price surge. He noted that BTC would not bounce back to its past lows at$6,000. Additionally, the $9,500 level act now as the crypto’s major resistance, and the bulls should keep their eyes on that level.

At the time of writing, the BTC/USD pair is trading at $9,370, reaching the $9,450 local highs over the past 24 hours.