TechDev's predictions seem a little more modest than those of other prominent cryptocurrency market commentators.
Bitcoin could double in value by July, leading analyst predicts %.
#BTC could double in value by July, predicts leading analyst Coinspeaker .
TechDev's predictions seem a bit more modest than those of other prominent #cryptocurrency market commentators.
TechDev, a popular analyst on the X app, has made some pretty bold predictions regarding the price of bitcoin (BTC). In a recent post, the pseudonymous tech analyst noted that the price of #BTC is likely to double over the next three months. In other words, bitcoin could reach $140,000 by July.
This prediction is based on signals from a technical analysis indicator commonly known as Bollinger Bands, and according to TechDev, bitcoin has just crossed the upper boundary of the Bollinger #Band for two consecutive months, which is extremely rare. However, the analyst notes that when bitcoin has made such a move in the past, the price doubled over the next three months.
Bollinger Bands are quite a popular indicator among novice investors. In technical analysis, Bollinger Bands are used to measure the momentum and volatility of an asset within a certain range. Users of this tool usually interpret the signals as overbought if the price touches the upper band and oversold if it touches the lower band.
Interestingly, Techdev's forecasts appear to be somewhat more conservative than those of other prominent market commentators. For example, Anthony Scaramucci, CEO of Skybridge Capital, recently shared his views on bitcoin in an interview with CNBC. Scaramucci believes that bitcoin has a lot of room to grow to $170,000 in the current cycle. However, his predictions don't end there.
The CEO said that in the long term, BTC could trade up to half the value of gold. However, he acknowledged that this would require a roughly six-fold increase in market capitalization.
Read us at: Compass Investments
