Bitcoin is Bullish: Standard Chartered Bank, Robert Kiyosaki Think BTC Will At Least 2X
Bitcoin is bullish but stagnant below $72,000. Still, analysts predict BTC to breach $150,000 and soar even higher in the coming months
Bitcoin barely moved on June 6. At spot rates, bulls are expectant. They expect prices to not only break $72,000 but confirm the Bull Run from May 20. However, this needs determination, especially from buyers. As things stand, what’s needed is a decisive, wide-ranging bull bar closing above the immediate local resistance. When this prints out, the odds of BTC flying, as most traders predict, will be high—and welcomed.
From the daily chart, Bitcoin prices remain inside a narrow range, considering yesterday’s drab performance. Currently, BTC is stable on the last day but up a decent 4% in the previous week. Even so, engagement is low, just over $26 billion. As mentioned, sharp price movements tend to push the average trading volume (a gauge of measuring sentiment) higher.
The following Bitcoin news events might influence prices today:
- Standard Chartered Bank analysts are convinced that if Donald Trump, the former United States president, wins this year’s election, the coin will not only breach $74,000 but will double to over $150,000 in the coming months. Trump has declared his support for crypto and plans to make the country an innovation hub.
- Meanwhile, Robert Kiyosaki has said even if the wild predictions of BTC reaching $350,000 is a suckers’ bait, it is not a lie or a speculation. Based on his outlook, this is a real possibility.
Bitcoin Price Analysis
BTC/USD is in a clear uptrend at press time.
Even so, prices are moving horizontally, below $72,000.
As reiterated above, there will be clear loading opportunities once there is a sustained breach of $72,000.
A breakout will lift Bitcoin to $74,000 in a buy trend continuation formation; a huge boost for optimistic bulls.
Before then, aggressive traders can look to buy on dips above $66,000.
Any dump below $66,000 cancels this outlook.
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