Bitcoin Price Prediction: As Former Goldman Sachs Exec Predicts Massive BTC Surge, This PEPE 2.0 ICO Rockets Towards $15 Million
The Bitcoin price edged up by a fraction of a percent in the last 24 hours to trade at $63,448 as of 03:20 a.m. EST on trading volume that skyrocketed 94% to $29.75 billion.
This comes as macro economist Raoul Pal says that Bitcoin is preparing for a price explosion. In a video posted on Real Vision’s YouTube channel, the former Goldman Sachs executive says BTC tends to move in sync with global liquidity cycles.
Pal shared a graph suggesting that global liquidity will increase in the next three months, and that BTC could soar beyond $200k.
“This is definitely a beautiful graph,” he said. “It contains both private and public sector liquidity from major global economies in the GMI (Global Macro Investor) global weekly liquidity index. I think it’s perfect. Bitcoin has been tracking this ten weeks in advance.”
Bitcoin Price Could Continue Soaring
The Bitcoin price has been on a sustained bullish stance from September 6, trading within the rising channel pattern, from the $53,200 support zone, according to data from GeckoTerminal .
The recent continued uptrend has driven the price of Bitcoin to trade above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish rally.
If the bulls sustain the current trend, the Bitcoin price may soar even further, as they currently target $72,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Next Crypto Bull Run 2024 Ignites: But Will Bitcoin Keep Going Up?
Major Hamster Kombat Airdrop: Token Vesting Sends Shockwave – But What Is Vesting?
PEPE lost its key support level, where is the opportunity to buy at the bottom?