Bitcoin Price Forecast: Surge Above $100,000 Expected Amid Strong M2 Signals
Crypto analyst Colin predicts Bitcoin will surpass $100,000 soon, supported by its performance against the Global M2 money supply, which is at an all-time high. He foresees potential dips for buying opportunities, while Titan of Crypto identifies a momentum shift indicating a possible rally. Bitcoin’s current price is around $85,400, showing a slight increase.
Crypto analyst Colin remains optimistic about Bitcoin’s potential against the Global M2 money supply, predicting a surge past $100,000 toward a new all-time high (ATH) in the near future. He highlighted that the Global M2 had reached an all-time high for three consecutive days, which he considers a “fantastic sign” for Bitcoin and similar risk assets. However, Colin warned that it may take several weeks for liquidity to flow into Bitcoin, indicating a potential price rally could reach as high as $144,000 when that influx occurs.
Colin anticipates another buying opportunity before the expected rally, suggesting that it would take one to two weeks for significant movement. His projections indicate a gradual decline until mid-April, followed by a possible explosion in May. The analyst cautioned investors against reacting to short-term price fluctuations and emphasized the necessity of patience in monitoring the Global M2 as a macro chart. He noted that deviations will occasionally occur, and it is essential to focus on long-term trends rather than brief market variations.
In a related analysis, Titan of Crypto suggested a potential momentum shift for Bitcoin is underway, supported by data from the LMACD and a strong weekly price action. Titan’s analysis reveals that both the momentum and structural indicators are in alignment. His forecast posits that Bitcoin may aim to reclaim the $90,000 level during this momentum shift, with signs of a major breakout emerging from a recent trendline break in the weekly Relative Strength Index (RSI). Currently, Bitcoin’s price hovers around $85,400, showing an increase of over 1% in the past 24 hours, according to CoinMarketCap.
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In summary, Bitcoin is poised for significant growth as it relates to the Global M2 money supply, with predictions suggesting a potential price surge beyond $100,000. Analysts encourage patience amid upcoming price corrections, suggesting further buying opportunities. Concurrently, signs of a momentum shift in Bitcoin’s price action may indicate an approach towards reclaiming the $90,000 mark. Bitcoinist’s editorial team upholds rigorous standards to ensure authoritative and credible content for their audience.
Original Source: bitcoinist.com
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