Global Liquidity: The Key Indicator
According to Philip Swift, founder of LookIntoBitcoin, global liquidity has reached an all-time high of $94 trillion, approaching $100 trillion. Swift believes this is a crucial indicator for Bitcoin’s potential growth in this bull run.
Bitcoin’s Inevitable Rise
Swift suggests that Bitcoin’s rise is inevitable as long as global liquidity continues to increase. He points to Bitcoin’s previous all-time high of $69,000 in 2021, which coincided with global liquidity of around $90 trillion.
Bitcoin’s Value Potential
Despite reaching a new all-time high of $73,750 in March, Swift believes Bitcoin still has a long way to go. He cites the MVRV z-score indicator, which suggests that Bitcoin is still undervalued. Swift predicts Bitcoin could reach at least $100,000 before the market peak.
Cycle Top Indicators
Swift also notes that Bitcoin’s cycle top indicators, such as the delta top and terminal price, continue to climb higher. This suggests that Bitcoin could potentially reach new highs of $137,579 and $148,390, respectively.
Analyst Predictions
Other crypto analysts, such as Tarekonchain, also believe Bitcoin has room to grow. Based on the Market Value to Realized Value (MVRV) indicator, Tarekonchain predicts Bitcoin could rise above $100,000 in this cycle.
Potential Breakout and Parabolic Phase
Crypto analyst Rekt Capital suggests that Bitcoin could make history if it breaks out of its post-halving Re-Accumulation range soon. A successful breakout could send Bitcoin into a “parabolic phase” of the cycle, potentially reaching new highs above $100,000.
Standard Chartered Bank’s Forecast
Standard Chartered Bank has predicted that Bitcoin could reach $100,000 before the US Presidential election in November. The bank also predicts a potential rise to $150,000 by year-end if Donald Trump wins the election.
Current Market Situation
At the time of writing, Bitcoin is trading around $71,000, up in the last 24 hours.
