Bitcoin rise revives 2019 parabolic chart, $100,000 scenario

Bitcoin briefly broke above $80,000, and Peter Brandt revived a parabolic rise model for bitcoin he presented in 2019, signaling the long-term bullish structure remains valid.

On Sept. 6 (local time), blockchain outlet U.Today reported that Brandt reshared an iconic logarithmic chart he released in June 2019 and said bitcoin's fourth parabolic phase structure remains in place.

The renewed attention to the chart came as bitcoin, after moving above $80,000, tested a strong resistance zone at $82,000. The market is taking Brandt's repost as a direct signal that bitcoin's multi-year bullish trend has not been damaged.

In June 2019, when bitcoin was trading around $10,000, Brandt presented a $100,000 price target. At the time, a Factor LLC chart pointed out that traditional assets such as Apple, Amazon, Netflix and gold also failed to replicate bitcoin's cyclical performance. Past bitcoin cycle returns were recorded at 20 times, 489 times, 42 times and 93 times, respectively.

The reason it is drawing attention again lies in the chart structure rather than the price level. On a weekly log chart, bitcoin's current price is showing a compressing move near the lower boundary of its historical upward channel. The model Brandt presented interprets this zone as a repetition of a broad accumulation phase. The key point is that the structure of the fourth parabolic phase is still alive.