{"id":104725,"date":"2020-11-04T16:31:23","date_gmt":"2020-11-04T13:31:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-sees-record-100-days-above-10k-as-one-analyst-eyes-parabolic-2021\/"},"modified":"2020-11-04T16:31:23","modified_gmt":"2020-11-04T13:31:23","slug":"bitcoin-sees-record-100-days-above-10k-as-one-analyst-eyes-parabolic-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-record-100-days-above-10k-as-one-analyst-eyes-parabolic-2021\/","title":{"rendered":"# Bitcoin sees record 100 days above $10K as one analyst eyes \u2018parabolic\u2019 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc1ab566a9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc1ab566a9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-record-100-days-above-10k-as-one-analyst-eyes-parabolic-2021\/#Bitcoin_sees_record_stretch_above_10000\" >Bitcoin sees record stretch above $10,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sees-record-100-days-above-10k-as-one-analyst-eyes-parabolic-2021\/#Strategist_eyes_%E2%80%9Cparabolic%E2%80%9D_2021\" >Strategist eyes \u201cparabolic\u201d 2021<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin sees record 100 days above $10K as one analyst eyes \u2018parabolic\u2019 2021 <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">Bitcoin (BTC) has officially beaten a new record as BTC\/USD trades above $10,000 for 100 days, and major gains should come next.<\/p>\n<p>As voting in the United States\u2019 presidential election ended on Nov. 3, Bitcoin saw a landmark moment of its own \u2014 100 days straight trading in five figures.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_sees_record_stretch_above_10000\"><\/span>Bitcoin sees record stretch above $10,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The achievement is not just impressive as a record for $10,000-plus prices. According to previous data, once Bitcoin trades above these significant price levels for 100 days, BTC\/USD swiftly increases by an order of magnitude.<\/p>\n<p>As Cointelegraph reported last week, the length of time has differed depending on the price level involved, but the result has been the same \u2014 major gains.<\/p>\n<p>Adding strength to the argument of Bitcoin staying higher going forward, quantitative analyst PlanB <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1323656084960256000\">noted<\/a> that the largest cryptocurrency\u2019s untested 200-week moving average has now crossed $7,000 for the first time.<\/p>\n<p>Should historical patterns repeat themselves, Bitcoin could now gain more relative to the 200 WMA the closer it gets to its next block subsidy halving in 2024.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/060c9c7f-d1a3-4ca6-b111-fdb9d0a2570d.png\" alt=\"\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>Bitcoin price versus its 200-week moving average. Source: PlanB\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Strategist_eyes_%E2%80%9Cparabolic%E2%80%9D_2021\"><\/span>Strategist eyes \u201cparabolic\u201d 2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the topic of history repeating itself, Bitcoin could go \u201cparabolic\u201d next year if it follows its behavior after previous halvings, a well-known analyst has forecast.<\/p>\n<p>In a <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1323963689318469632\">tweet<\/a> on Nov. 4, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, became the latest figure to suggest that next year would be hyper-bullish for BTC.<\/p>\n<p>The reason, he said, is a simple balance of supply and demand \u2014 Bitcoin\u2019s supply reduced at the latest halving in May, while buyer demand for new coins is only increasing. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<p>\u201cBitcoin may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again,\u201d he wrote. <\/p>\n<blockquote><p>\u201cNew highs are a next potential iteration and may be only a matter of time unless something we don&#8217;t foresee <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>s up the trend of greater adoption and demand vs. limited supply.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/2067861f-faa7-47dd-8680-76f0267fab3b.jpeg\" alt=\"\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>Bitcoin supply and demand comparison chart. Source: Mike McGlone\/Twitter<\/em><\/figcaption><\/figure>\n<p>McGlone was likely referring to recent corporate buy-ins, along with the promise of PayPal users <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/fortune.com\/2020\/11\/02\/paypal-cryptocurrency-bitcoin-venmo\/\">queuing up<\/a> to use Bitcoin and other cryptocurrencies on the platform from next year. <\/p>\n<p>At the same time, existing large-volume supporters such as asset manager Grayscale and payment network Square are only adding to their positions in 2020. <\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-sees-record-100-days-above-10k-as-analyst-eyes-parabolic-2021\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin sees record 100 days above $10K as one analyst eyes \u2018parabolic\u2019 2021 &#8221; Bitcoin (BTC) has officially beaten a new record as BTC\/USD trades above $10,000 for 100 days, and major gains should come next. As voting in the United States\u2019 presidential election ended on Nov. 3, Bitcoin saw a landmark moment of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":104726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/0c4a3293-9299-4ce0-a341-0a8cf4bc5496.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74355,73785,68637],"class_list":["post-104725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-adoption","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/104725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=104725"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/104725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/104726"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=104725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=104725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=104725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}