Philip Swift, the creator of LookIntoBitcoin, recently pointed out the substantial increase in global liquidity, reaching a new all-time high (ATH). Swift emphasized the critical nature of this indicator in predicting Bitcoin’s surge in the current bull market. According to Swift, global liquidity is the most important chart to monitor during this bull run, as it recently surpassed the $94 trillion mark and is nearing $100 trillion. This surge in liquidity could potentially pave the way for new all-time highs for Bitcoin.
During the 2021 bull run, when Bitcoin reached its previous ATH of $69,000, global liquidity was around $90 trillion. Since then, Bitcoin’s price has exceeded that level, underscoring the correlation between global liquidity and the flagship cryptocurrency’s price movement. Swift believes that as long as global liquidity continues to trend upwards, Bitcoin’s upward trajectory is inevitable. Despite Bitcoin hitting a new ATH of $73,750 in March, Swift argues that the digital asset still has a significant way to go.
Another crypto analyst, Tarekonchain, also highlighted the Market Value to Realized Value (MVRV) indicator, indicating that Bitcoin is far from reaching its peak. This analysis leads to the prediction that Bitcoin could achieve new highs in the current cycle and potentially cross the $100,000 mark. Similarly, Rekt Capital, another prominent analyst, suggested that Bitcoin might soon make history with a breakout. If this breakout occurs promptly, it could be the fastest Bitcoin has ever broken out from a post-halving Re-Accumulation range, pushing Bitcoin into a parabolic phase in the cycle and potentially driving the price above $100,000.
In an interesting prediction, Standard Chartered Bank forecasted that Bitcoin could reach $100,000 even before the upcoming US Presidential election in November. This outlook aligns with the bullish sentiment surrounding Bitcoin’s price trajectory and its potential for significant growth in the coming months.
The surge in global liquidity and the positive sentiment from analysts and financial institutions indicate a promising outlook for Bitcoin’s price movement in the current bull run. With various indicators pointing towards new all-time highs and the possibility of crossing the $100,000 threshold, Bitcoin investors and enthusiasts have reasons to be optimistic about the future of the leading cryptocurrency.
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