Bitcoin has entered a phase of price discovery, a significant market condition where historical price data is no longer a guiding factor for future movements. Analysts, including Ki Young Ju from CryptoQuant, indicate that this phase may lead to increased volatility and substantial price swings. As of November 11, 2024, Bitcoin's price is reported at $83,000, signaling heightened market activity and speculation about potential future price points, including discussions around reaching $100,000. This transition is characterized by a lack of past charts to inform traders, suggesting that market sentiment and current dynamics will heavily influence Bitcoin's trajectory in the near term.