Bitcoin Price Prediction – BTC Targets $100k or Higher
- WBOYOriginal
- 2024-07-18 10:38:15703browse
Crypto analyst Dan Gambardello has shared a bullish outlook for Bitcoin's future. In a YouTube video, he predicts BTC could surge $100K or higher.
Prominent crypto analyst Dan Gambardello has shared a bullish outlook for Bitcoin (CRYPTO: BTC). In a recent YouTube video, Gambardello predicts that BTC could surge to $100,000 or even higher.
Gambardello bases his forecast on a combination of technical analysis, historical patterns, and upcoming macro events. His analysis delves into key moving averages and potential price patterns forming on the charts.
“We're going to talk about really nice targets. I'm talking about 100,000 plus targets to the upside,” Gambardello states in the video. He goes on to identify two potential price targets based on different measurement techniques: $120,000 and $250,000. However, Gambardello does express caution regarding the higher end of this range.
The analyst places great emphasis on the 20-week moving average (20we) in his analysis. According to Gambardello, Bitcoin has historically maintained support above this level during bull markets following halving events. However, the current cycle has seen Bitcoin dip below the 20we.
Despite this deviation, Gambardello remains optimistic. He cites other indicators and onchain metrics that, together with the moving averages, support a bullish outlook. The analyst highlights the need for Bitcoin to hold support above key moving averages, including the 50, 20, and 200.
Gambardello also discusses several macro events that could impact Bitcoin’s price. He points to the upcoming Bitcoin halving in April, which is typically viewed as a bullish event. “Every halving post halving crypto has gone parabolic,” he notes, referring to past price movements following these events.
The analyst also highlights the potential influence of politics on the crypto market. He mentions Donald Trump’s participation in the Bitcoin 2024 conference and the possibility of an administration that favors crypto. These developments, Gambardello suggests, could favor Bitcoin and the broader crypto industry.
Touching on the regulatory sector, the analyst criticizes SEC Chair Gary Gensler’s approach. He cites JD Vance’s critical view of Gensler’s regulatory stance on crypto. The analyst suggests that a friendly regulatory environment could further boost Bitcoin’s prospects.
While Gambardello’s prediction of Bitcoin reaching $100,000 or higher is certainly optimistic, he bases it on detailed technical analysis and consideration of broader market factors.
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