Philip Swift, the founder of LookIntoBitcoin, recently pointed out the significant increase in global liquidity, which has just reached a new all-time high (ATH). According to Swift, global liquidity hitting a new ATH is a crucial indicator of how Bitcoin can rise in the current bull run.
Swift emphasized that global liquidity is the “most important” chart in this bull run. He shared a chart showing that global liquidity has reached $94 trillion and is fast approaching the $100 trillion mark. This surge in liquidity could potentially lead to new all-time highs for Bitcoin.
Previously, when global liquidity was around $90 trillion, Bitcoin hit its previous all-time high of $69,000 during the 2021 bull run. Since then, Bitcoin’s price has surpassed that level, confirming the correlation between the global liquidity indicator and Bitcoin’s price performance.
Swift predicted that Bitcoin’s ascent is “inevitable” as long as global liquidity continues to trend upwards. He mentioned that Bitcoin still has a long way to go after reaching a new all-time high of $73,750 in March. Referring to the MVRV z-score indicator, Swift suggested that Bitcoin could potentially exceed $100,000 before the market reaches its peak.
Crypto analyst Tarekonchain also highlighted the Market Value to Realized Value (MVRV) indicator, noting that Bitcoin is still far from reaching its peak. This analyst predicts that Bitcoin could achieve new highs in this cycle and potentially exceed $100,000.
Crypto analyst Rekt Capital suggested that Bitcoin could make history with a breakout in the near future. A successful breakout could propel Bitcoin into a parabolic phase of the cycle, leading to new highs and a possible price surge above $100,000.
Standard Chartered Bank even predicted that Bitcoin could reach $100,000 before the US Presidential election in November, adding to the growing optimism surrounding Bitcoin’s price trajectory in the near future.
The surge in global liquidity and its correlation with Bitcoin’s price performance indicate a potential for significant growth in the cryptocurrency market. As analysts and industry experts continue to make bullish predictions for Bitcoin, the possibility of Bitcoin surpassing $100,000 seems increasingly likely in the coming months.
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