Source: Cointelegraph
Original: “Is Bitcoin (BTC) About to Enter a Parabolic Growth Phase? The Next Price Target for Bitcoin is $160,000”
Key Points:
Bitcoin (BTC) continues to push against a key resistance area below its historical high.
As bulls successfully defended the $100,000 level after Wall Street opened, discussions about a "parabolic" growth in Bitcoin's price have reignited.
While the price has reached a new high since January, signals for profit-taking in the market are gradually increasing.
Bitcoin (BTC) is attracting "parabolic" price prediction targets, thanks to bullish investors maintaining their hold at the $100,000 level on May 9.
Data from Cointelegraph Markets Pro and TradingView shows that there have been almost no signs of consolidation for Bitcoin (BTC)/USD in the past 24 hours.
The trading pair broke through $104,332 on the Bitstamp exchange, marking its highest level since the end of January, clearly breaking away from the slow downward trend that persisted for most of 2025.
The market reacted positively to this, with participants beginning to regain confidence in a broader Bitcoin bull market.
"The monthly candlestick for November 2024 is a breakout signal on long-term technical charts," noted prominent economist Aksel Kibar in his latest social media post to his followers.
He included an analysis chart comparing November 2024 with historically similar "breakout" events, while Kibar reiterated his previously predicted target price of $137,000.
However, other analysts hold a more optimistic outlook for BTC's next price movement. In particular, discussions about a "parabolic" rise have resurfaced this month.
Bitcoin is about to enter a parabolic phase.
Do not bet against history. pic.twitter.com/NYJVexp0mM
— Mister Crypto (@misterrcrypto) May 1, 2025
"Bitcoin is experiencing exponential growth," summarized cryptocurrency entrepreneur and investor Jason Williams as Bitcoin returned to $100,000.
Trader and analyst Matthew Hyland also joined the camp predicting a new historical high in the second quarter in his latest video report.
He pointed out that if bulls continue to dominate the market and key leading indicators like the Relative Strength Index (RSI) support further increases, $160,000 or other "crazy numbers" could become a reality.
"I do believe Bitcoin is very likely to break through these highs," he concluded.
BTC & #ETH Update: pic.twitter.com/ovRS9pN0aj
— Matthew Hyland (@MatthewHyland_) May 9, 2025
In the short-term timeframe, well-known trader Skew warned that profit-taking is fully underway at the $103,000 level, which itself is a key long-term resistance area.
"We're starting to see profit-taking at this price level, likely from large traders. They are passively selling Bitcoin and closing long positions in this price range," he explained that day.
"Logically, this makes complete sense as BTC is trading near the high timeframe supply and resistance zone of $103,000-$104,000."
The U.S. stock market showed a lackluster performance at the Wall Street opening, and analyst Skew noted that stock market volatility could impact cryptocurrency market trends.
"Based on the current flow of funds, the market remains highly correlated with traditional financial markets, so investors should closely monitor market performance before today’s close," he added.
Related: Crypto Assets Go Mainstream: Top Companies Double Down on Bitcoin (BTC) and Solana (SOL), Coinbase Set to Join S&P 500
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