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A popular economist has said that the price of bitcoin at $ 111,000 is quite realistic amid a technical indicator and bullish market structure alignment.
In a new video on the Trade Gate Hub, economist Henrik Seeberg argues that there is a possibility that the largest cryptocurrency asset will «melt» to six figures by August. According to Seberg, BTC $63,072.98 Bitcoin 0.17% Market capitalization $1.27 trillion VOL. 24 hours $0.37 billion historically enters a parabolic phase after its monthly Relative Strength Index (RSI) rises above 70.
«So, I got $ 110,000 to $ 115,000 for the VTS. This is actually part of a larger pattern. I see that this is the beginning of a new bullish movement, but it needs a long break after the top of the fall ,» the expert said.
Bitcoin’s RSI, a momentum indicator, is currently at 71. Seeberg goes on to say that it is even possible for bitcoin to reach a price of over $ 200,000.
«I can see that in an even crazier world… we could reach $ 250,000, but my goal is $ 110,000 to $ 115,000.»
As a reminder, the majority (61%) of experts surveyed by Finder analysts recommend buying bitcoin, 32% advise keeping the first cryptocurrency for the long term, and only 6% recommend selling. The respondents predict that by the end of 2025, BTC may rise to $ 151,000, and by the end of 2030 — to $ 567,000.