Philip Swift has recently drawn attention to the significant increase in global liquidity, which has just reached a new all-time high. He emphasized the importance of this indicator in the current bull run of Bitcoin’s price surge. According to Swift, global liquidity has now surpassed $94 trillion and is approaching the $100 trillion mark. This surge in liquidity could pave the way for new all-time highs for Bitcoin, as evidenced by its price exceeding the previous ATH of $69,000 during the 2021 bull run.
Swift expressed his belief that Bitcoin’s rise is inevitable as long as global liquidity continues to trend upwards. Despite hitting a new ATH of $73,750 in March, Swift pointed out that Bitcoin still has a long way to go. He referenced the MVRV z-score indicator, which indicates that Bitcoin is still undervalued compared to its fair value. Swift’s analysis suggests that Bitcoin could potentially surpass $100,000 before reaching the market top.
Other crypto analysts, such as Tarekonchain and Rekt Capital, have also shared similar sentiments regarding Bitcoin’s potential for further growth. Tarekonchain highlighted the Market Value to Realized Value (MVRV) indicator to support the notion that Bitcoin is far from reaching its peak. The analyst predicted that Bitcoin could achieve new highs in the current cycle and potentially exceed $100,000.
Rekt Capital echoed these sentiments by suggesting that a breakout in Bitcoin’s price could lead to historic achievements. If Bitcoin successfully breaks out from its post-halving Re-Accumulation range, it could enter a parabolic phase of the cycle, propelling its price to new highs. This optimistic outlook aligns with the projections of reaching $100,000 and beyond.
Adding to the bullish sentiment surrounding Bitcoin, Standard Chartered Bank has forecasted that Bitcoin could reach $100,000 even before the US Presidential election in November. This prediction further fuels the speculation of Bitcoin’s continued rise fueled by the surge in global liquidity and positive market indicators.
Overall, the combination of rising global liquidity, bullish market indicators, and optimistic projections from analysts suggests that Bitcoin’s upward trajectory is set to continue. As the cryptocurrency market continues to evolve, it will be interesting to see how these factors play out and impact Bitcoin’s price movements in the coming months.
