A popular cryptocurrency analyst under the pseudonym TechDev predicts a massive rise in bitcoin in the coming months if the economic cycle continues as it has in the past.
To predict the price of bitcoin, TechDev relies on the behavior of more traditional financial markets – the price of 10-year Chinese bonds and the dollar index, central bank balance sheets of large countries, and so on.
According to him, the price of bitcoin closely follows the indicators of global liquidity, and the current economic cycle should once again end with a large-scale growth in the money supply. Therefore, the bitcoin rate is preparing for growth.
According to the analyst, the logarithmic growth curve indicator, which ignores short-term fluctuations in the asset, indicates a maximum price of $140,000 for bitcoin by 2025.
“I note that this is a very rough approximation based on specific indicator parameters and momentum steepness,” warned TechDev.
The analyst also noted that the Bollinger Bands indicator is in a very narrow range. The last time after the exit of bitcoin from such a range, a full-scale bullish trend began in the cryptocurrency market.
Earlier, an anonymous analyst under the pseudonym Credible Crypto spoke about the upcoming growth of the first cryptocurrency .
