During the current market downturn, Bitcoin supporters have been encouraged by crypto influencer and YouTube personality Jeremy DaVinci.
The technical assessment put forth by DaVinci focuses on the Bollinger Bands indicator, implying a possible surge in Bitcoin‘s price trend.
Where Are We Headed To?
Based on DaVinci’s analysis, Bitcoin has stayed above its upper Bollinger Band threshold for two consecutive months. This pattern historically indicates substantial price increases. Looking back at past events, DaVinci suggests that Bitcoin’s value could potentially double within a three-month timeframe following this trend.
DaVinci is well-known for being an early adopter of Bitcoin and expressing strong feelings in favor of it. He has become a significant influencer in the world of cryptocurrencies.
According to DaVinci’s most recent projection, Bitcoin’s price may exceed $130,000 in the next three months. This positive outlook is shared by other industry experts, adding fuel to the growing optimism among Bitcoin investors.
Things are looking very interesting now.
Bitcoin just closed two months above the upper Bollinger Band!
Historical data shows that whenever this happens, Bitcoin’s price has doubled within three months.
— Davinci Jeremie (@Davincij15) April 9, 2024
Macroeconomic Factors To Drive Bitcoin Rise
In simple terms, Dan Tapiero, a well-known investor, has shared his positive viewpoint about Bitcoin’s future growth. This adds to the overall excitement and confidence in the cryptocurrency.
Tapiero, recognized for his expertise in investments and co-founder of Gold Bullion International and 10T Holdings, pointed out a major economic trend boosting Bitcoin’s possible rise.
Based on Tapiero’s analysis, the strong connection in the financial markets suggests worries about “money being devalued” due to a significant expansion of the Treasury market during the last five years.
According to Tapiero’s perspective, what sets Bitcoin apart as a digital asset is its scarcity – a factor that could make it surpass the performance of conventional investments such as gold.
Most remarkable macro correlation break I’ve seen in some time.
Suggests extreme concern about monetary debasement driven by 60% Treasury mkt increase past 5yrs.
Theme not yet widely subscribed.
Bullish #GOLD and more so when rates drop.
Vaults #Bitcoin to 200k+
— Dan Tapiero (@DTAPCAP) April 8, 2024
Despite the promising outlook for gold, Tapiero is very optimistic about Bitcoin’s potential price increase. He believes Bitcoin could reach and even exceed $200,000, presenting a significant profit chance for investors seeking digital gold.
The asset has proven strong despite the ongoing talk about Bitcoin potentially increasing in value over the next few months. Even though Bitcoin saw a almost 5% decrease in value in the previous day, it was still being exchanged above $69,000 when this was penned down.
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2024-04-10 02:10