Bitcoin (BTC) has recently broken through a crucial price resistance level, prompting a well-known analyst to suggest that the cryptocurrency is entering a parabolic phase. This marks the beginning of a potential explosive rally for Bitcoin that could extend into 2025. Rekt Capital, who gained attention for predicting Bitcoin’s pre-halving correction earlier this year, is now forecasting a period of sharp price increases based on historical market cycles.

The Significance of Breaking $70,000 Resistance

For Bitcoin, crossing the $70,000 resistance level is a pivotal milestone. According to Rekt Capital, this price point is not just another resistance; it represents the “first signal” of a new phase in the Bitcoin market cycle. He compares this moment to previous cycles, where Bitcoin faced similar levels of resistance before embarking on significant bull runs.

Looking back at past cycles, Rekt Capital highlights that the $20,000 mark in 2020/2021 acted as a key resistance point. Once that level was surpassed, Bitcoin surged to new all-time highs. In the 2017 cycle, the resistance was even lower, around $1,200, but the principle remained the same: breaking a major resistance level often signals the beginning of a sustained upward movement.

For the current cycle, the $69,000 level serves as the major resistance that has now been broken, offering strong evidence that Bitcoin has entered a phase ripe for significant price gains. The analyst sees this as a sign of the “parabolic phase” of Bitcoin’s cycle, suggesting that Bitcoin’s price could increase significantly over the coming months.

What’s Driving Bitcoin’s Bullish Potential?

Rekt Capital explains that in previous cycles, Bitcoin has seen several months of price rallies after breaking major resistance. In both 2020 and 2017, Bitcoin experienced upwards movements lasting for about nine months before reaching its peak. This time, Rekt Capital believes Bitcoin could continue to rise for anywhere from nine to twelve months, with the rally extending well into 2025.

“Bitcoin’s break above $70,000 is just the beginning,” Rekt Capital said. He notes that Bitcoin could still be in the early stages of this parabolic move, which could continue for several more months. The key indicator here is Bitcoin’s ability to sustain price levels above previous resistance, which has historically been a strong signal of a continued upward trajectory.

Bitcoin’s resilience in maintaining support levels during recent pullbacks also adds to the bullish outlook. After retesting the $91,000 range, BTC has shown it can remain above critical support levels, avoiding a deeper correction. This is a sign that investor sentiment remains positive, further supporting the possibility of a sustained rally.

Looking Ahead: Bitcoin’s Parabolic Phase and 2025 Bear Market

While the outlook for Bitcoin is highly optimistic for the coming months, Rekt Capital also offers a word of caution. Historically, Bitcoin’s parabolic rallies tend to reach their peak after several months of sharp price increases, often followed by a bear market. He predicts that the parabolic phase could last well into 2025, but that after reaching its apex, Bitcoin may experience a downturn that could carry over into 2026.

The long-term outlook for Bitcoin remains highly dependent on external market factors, such as global economic conditions, investor sentiment, and developments within the cryptocurrency space. However, if historical trends continue to hold, Bitcoin could be on the verge of a major rally, making now an exciting time for investors.

Is a $100,000 Bitcoin Price Within Reach?

Given the current momentum and Rekt Capital’s analysis, many Bitcoin enthusiasts are beginning to wonder: could Bitcoin hit $100,000 soon? The answer remains uncertain, but the analyst believes that Bitcoin’s price action is currently poised for further gains, with $100,000 being a realistic target as the parabolic phase unfolds.

As more institutions and retail investors continue to show confidence in Bitcoin, the bullish narrative is likely to continue. With Bitcoin’s market cycle entering this new phase, traders and investors alike will be closely watching the price action for any signs of further bullish developments.

What Does This Mean for Investors?

For those holding Bitcoin or considering entering the market, Rekt Capital’s analysis presents a cautiously optimistic view. The current price movement suggests that Bitcoin is on the verge of a major rally, but investors should remain aware of the risks. As always, the cryptocurrency market is volatile, and significant price fluctuations are likely.

For now, however, Bitcoin’s breakout above the $70,000 resistance level signals that the next phase of the bull market could be just beginning. Whether this rally reaches $100,000 or beyond, the potential for a significant price increase over the next year is very much on the table.