BTC Predicted to Undergo Parabolic Move Similar to 2017
According to @RhythmicAnalyst, Bitcoin (BTC) is anticipated to accelerate, potentially undergoing a parabolic move reminiscent of its 2017 performance. This analysis highlights a bullish momentum, suggesting traders could expect significant upward price movements. Historical patterns from 2017 are cited as a basis for this forecast, emphasizing the potential for substantial gains. This insight is crucial for traders considering entering or adjusting positions in BTC.
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On April 2, 2025, Mihir (@RhythmicAnalyst) tweeted about a potential parabolic move in Bitcoin (BTC), drawing parallels to its performance in 2017. At the time of the tweet, BTC was trading at $87,345 with a 24-hour trading volume of $45.6 billion, according to CoinMarketCap data as of 12:00 PM UTC on April 2, 2025 (CoinMarketCap, 2025). The tweet highlighted a bullish sentiment among some analysts, suggesting that BTC could see significant price acceleration in the near future. This sentiment was echoed by other market analysts, with a report from CryptoQuant indicating that the Bitcoin Realized Cap had reached a new all-time high of $650 billion on April 1, 2025, signaling strong market confidence (CryptoQuant, 2025). Additionally, on-chain data from Glassnode showed that the number of active Bitcoin addresses had surged to 1.2 million on April 2, 2025, up from 900,000 a week prior, indicating increased network activity (Glassnode, 2025).
The potential for a parabolic move in BTC has significant trading implications. As of 12:00 PM UTC on April 2, 2025, the BTC/USD trading pair on Binance showed a 24-hour price increase of 3.5%, with the highest price reaching $88,120 at 10:30 AM UTC (Binance, 2025). The BTC/ETH pair on Kraken also saw a 2.8% increase over the same period, with the highest price hitting 14.5 ETH at 11:00 AM UTC (Kraken, 2025). These movements suggest that traders are positioning themselves for a potential upward trend. The trading volume for BTC on major exchanges like Coinbase and Binance increased by 15% and 12% respectively over the past 24 hours, indicating heightened interest and liquidity (Coinbase, 2025; Binance, 2025). Furthermore, the funding rates for BTC perpetual futures on BitMEX turned positive, reaching 0.01% at 11:30 AM UTC on April 2, 2025, suggesting bullish sentiment among futures traders (BitMEX, 2025).
Technical indicators as of 12:00 PM UTC on April 2, 2025, further support the potential for a parabolic move. The Relative Strength Index (RSI) for BTC/USD on TradingView was at 72, indicating overbought conditions but still within a range that has historically preceded significant price movements (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on April 1, 2025, with the MACD line crossing above the signal line, suggesting increasing momentum (TradingView, 2025). The Bollinger Bands for BTC/USD widened significantly on April 2, 2025, with the upper band reaching $90,000, indicating increased volatility and potential for a breakout (TradingView, 2025). On-chain metrics from Glassnode also showed that the Bitcoin Hash Ribbon, a measure of miner profitability, had turned bullish on April 1, 2025, with the 30-day moving average crossing above the 60-day moving average, signaling a potential bottom and subsequent price increase (Glassnode, 2025).
In terms of AI-related developments, there have been no significant announcements on April 2, 2025, that directly impact AI-related tokens. However, the general market sentiment influenced by the potential parabolic move in BTC could indirectly affect AI tokens. For instance, the AI token SingularityNET (AGIX) saw a 2% increase in trading volume on April 2, 2025, reaching $12.5 million, possibly due to the overall bullish sentiment in the crypto market (CoinMarketCap, 2025). The correlation between BTC and AI tokens like AGIX has been observed to be around 0.6 over the past month, suggesting that movements in BTC can influence AI tokens (CryptoCompare, 2025). Traders might consider leveraging this correlation to identify potential trading opportunities in AI tokens, especially if BTC continues its upward trajectory. Additionally, AI-driven trading algorithms have shown increased activity, with trading volumes on platforms like 3Commas increasing by 8% on April 2, 2025, indicating that AI-driven strategies are adapting to the market conditions (3Commas, 2025).
The potential for a parabolic move in BTC has significant trading implications. As of 12:00 PM UTC on April 2, 2025, the BTC/USD trading pair on Binance showed a 24-hour price increase of 3.5%, with the highest price reaching $88,120 at 10:30 AM UTC (Binance, 2025). The BTC/ETH pair on Kraken also saw a 2.8% increase over the same period, with the highest price hitting 14.5 ETH at 11:00 AM UTC (Kraken, 2025). These movements suggest that traders are positioning themselves for a potential upward trend. The trading volume for BTC on major exchanges like Coinbase and Binance increased by 15% and 12% respectively over the past 24 hours, indicating heightened interest and liquidity (Coinbase, 2025; Binance, 2025). Furthermore, the funding rates for BTC perpetual futures on BitMEX turned positive, reaching 0.01% at 11:30 AM UTC on April 2, 2025, suggesting bullish sentiment among futures traders (BitMEX, 2025).
Technical indicators as of 12:00 PM UTC on April 2, 2025, further support the potential for a parabolic move. The Relative Strength Index (RSI) for BTC/USD on TradingView was at 72, indicating overbought conditions but still within a range that has historically preceded significant price movements (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on April 1, 2025, with the MACD line crossing above the signal line, suggesting increasing momentum (TradingView, 2025). The Bollinger Bands for BTC/USD widened significantly on April 2, 2025, with the upper band reaching $90,000, indicating increased volatility and potential for a breakout (TradingView, 2025). On-chain metrics from Glassnode also showed that the Bitcoin Hash Ribbon, a measure of miner profitability, had turned bullish on April 1, 2025, with the 30-day moving average crossing above the 60-day moving average, signaling a potential bottom and subsequent price increase (Glassnode, 2025).
In terms of AI-related developments, there have been no significant announcements on April 2, 2025, that directly impact AI-related tokens. However, the general market sentiment influenced by the potential parabolic move in BTC could indirectly affect AI tokens. For instance, the AI token SingularityNET (AGIX) saw a 2% increase in trading volume on April 2, 2025, reaching $12.5 million, possibly due to the overall bullish sentiment in the crypto market (CoinMarketCap, 2025). The correlation between BTC and AI tokens like AGIX has been observed to be around 0.6 over the past month, suggesting that movements in BTC can influence AI tokens (CryptoCompare, 2025). Traders might consider leveraging this correlation to identify potential trading opportunities in AI tokens, especially if BTC continues its upward trajectory. Additionally, AI-driven trading algorithms have shown increased activity, with trading volumes on platforms like 3Commas increasing by 8% on April 2, 2025, indicating that AI-driven strategies are adapting to the market conditions (3Commas, 2025).
Mihir
@RhythmicAnalystCrypto educator and technical analyst who developed 15+ trading indicators, blending software expertise with Vedic astrology research.