Consumer Survey Raises Concerns
A survey by Deutsche Bank found that people are divided about Bitcoin’s future. Some believe it could drop below $20,000, while others are more optimistic.
Expert Opinions
Mike Novogratz, CEO of Galaxy Digital, thinks Bitcoin will benefit from the Federal Reserve cutting interest rates. However, the timing and amount of these cuts are still uncertain.
Technical Analysis
Analyst TechDev has identified a pattern in Bitcoin’s price history. When it closes above the upper Bollinger bands for two months in a row, the price tends to double within three months. This suggests that Bitcoin could reach $140,000 by July 2024.
Current Price Action
Bitcoin has been volatile lately, rising 8% in the past week but falling 2% in the past 24 hours.
