Bitcoin on parabolic trajectory, on track to hit $200k soon
As the majority of assets in the cryptocurrency sector are making significant strides that have pushed its total market capitalization back above $2 trillion, its representative, Bitcoin (BTC), is leading the charge with the highest price since December 2021 and more massive gains incoming. Indeed, at $1.11 trillion, Bitcoin alone accounts for nearly half of the industry’s market cap and is on the “ parabolic trajectory ” toward its price hitting $200,000 rather soon, according to the observations shared by crypto and stocks analyst Gert van Lagen in an X post published on February 27. Specifically, van Lagen explained that the flagship decentralized finance (DeFi) asset has been on this bullish trajectory since November 2022, following all of the five steps, i.e., “subwaves,” historically consistent with its previous parabolic moves, and toward a sell point at $210,000 after its next halving. Picked for you $1,000 invested in Bitcoin (BTC) at start of 2024 returned ...