Bitcoin Price Prediction: $135K in 100 Days?
Bitcoin Price Prediction: A Potential Surge to $135,000?
Recent market analysis suggests Bitcoin (BTC) could experience a significant price increase in the coming months. One analyst even predicts BTC hitting $135,000 within 100 days, based on a declining VIX (volatility index) and lower-than-expected inflation.
Bitcoin has been consolidating around $105,000 for several days, hinting at either a further rally or a potential pullback. While analysts offer price targets ranging from $135,000 to $200,000 within the next three to six months, several factors contribute to this optimistic outlook.
Factors Influencing Bitcoin's Potential Price Rise
- Lower Inflation: April's CPI inflation came in lower than anticipated, fueling expectations of a Federal Reserve rate cut, potentially boosting risk-on sentiment.
- US-China Trade Deal: The positive impact of the US-China trade deal has led to a drop in the VIX, indicating reduced market fear.
- True MVRV Value: At 1.7, this valuation metric suggests there's still room for Bitcoin's price to grow before reaching a local peak.
David Hernandez, a crypto investment specialist at 21Shares, stated that if easing inflation and nation-state adoption continue, price targets of $200,000 by year-end seem increasingly realistic.
Timothy Peterson, a BTC network analyst, points out the correlation between the VIX drop and lower inflation creating a risk-on environment. He previously predicted that a VIX dip to 18 could propel BTC to $107,000 in a few weeks and over $135,000 in 100 days.
Short-Term Outlook and Potential Correction
While a new all-time high is possible, a potential correction is also anticipated. Crypto research firm Swissblock suggests a potential pullback to $104,000-$106,000 before another significant rise. This is supported by analysis of past BTC price momentum.
Options market activity reflects the uncertainty. While bullish bets exist for prices at $105,000 and $115,000, bearish bets for $95,000 hold the largest trading volume, indicating trader preparedness for both scenarios.
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