To predict the price of bitcoin, TechDev relies on the behavior of more traditional financial markets – the price of 10-year Chinese bonds and the dollar index, central bank balance sheets of major countries, and so on.
He said the bitcoin exchange rate follows global liquidity indicators quite closely, and the current economic cycle should once again culminate in large-scale money supply growth. That’s why the bitcoin exchange rate is preparing to rise as well.
According to the analyst, the logarithmic growth curve indicator, which ignores short-term fluctuations in the asset, suggests bitcoin’s maximum value of $140,000 by as early as 2025.
“I will note that this is a very rough approximation based on specific indicator parameters and the steepness of momentum,” TechDev warned.
The analyst also noted that the Bollinger Band indicator is in a very narrow range. The last time a full-blown bullish trend in the cryptocurrency market began after bitcoin broke out of such a range.
Earlier, an anonymous analyst under the pseudonym Credible Crypto also talked about the upcoming growth of the first cryptocurrency.