The post Bitcoin Price Prediction: BTC Price Poised For 2x Rally by July appeared first on Coinpedia Fintech News
With Bitcoin Halving, regulatory clarity, and the Fed’s bullish stance the market is open to embrace the new changes expected after the halving event. The latest analysis from pseudonymous analyst TechDev suggests that Bitcoin could see a significant surge in price, potentially doubling from its current value of around $69,000 to approximately $140,000 by July. …
The post Bitcoin Price Prediction: BTC Price Poised For 2x Rally by July appeared first on Coinpedia Fintech News
With Bitcoin Halving, regulatory clarity, and the Fed’s bullish stance the market is open to embrace the new changes expected after the halving event. The latest analysis from pseudonymous analyst TechDev suggests that Bitcoin could see a significant surge in price, potentially doubling from its current value of around $69,000 to approximately $140,000 by July. This projection is based on the observation that Bitcoin has closed two consecutive months above the upper Bollinger Band, a momentum indicator used in technical analysis.
Technically $140,000 or $170,000 Possible? If
The market is buzzing with high hopes after Bollinger Band said Bitcoin will double its value as BTC surpassed previous ATH before halving. Bollinger Bands, while widely used, are just one of many technical indicators and are more reactive than predictive. They measure an asset’s momentum and volatility within a certain range, with touching the upper band often signaling overbought conditions. However, the reliability of such indicators can vary, especially during extreme market conditions.
In the meanwhile, SkyBridge Capital CEO Anthony Scaramucci is also bullish for Bitcoin, suggesting that it could reach as high as $170,000 during the current cycle. He also speculated that Bitcoin could eventually trade at half the total value of the global gold market, potentially reaching a price of $400,000 per BTC.
Scaramucci highlighted the recent approval of spot Bitcoin ETFs as a significant factor that could drive increased demand for Bitcoin, both from retail and institutional investors. These ETFs have already seen substantial inflows, surpassing $12 billion, indicating growing interest in Bitcoin as an asset class.
The positive side of Crypto Regulations
On the other side, Ripple CEO Brad Garlinghouse is optimistic about the future of the cryptocurrency market. Recently CNBC report revealed, that Garlinghouse predicted that the entire crypto sector could double in value, reaching a whopping $5 trillion by the end of this year.
Garlinghouse pointed to several factors driving this bullish outlook. Firstly, he highlighted the upcoming halving event, a key event in Bitcoin’s protocol that historically has led to increased demand and price appreciation. Plus, Garlinghouse emphasized the impact of regulatory developments, which could provide clarity and legitimacy to the crypto assets, attracting more institutional investors.
Also Check Out : Top 3 Trends to Watch for Altcoin Season Post Bitcoin Halving
Moreover, Garlinghouse noted the rising popularity of Bitcoin exchange-traded funds (ETFs) as another catalyst for broader crypto adoption. These investment products allow investors to gain exposure to Bitcoin without directly owning the underlying asset, making it more accessible to a wider range of investors.
With less than two weeks until the Bitcoin halving event, market participants are eagerly anticipating its impact on the cryptocurrency’s future direction.