Bitcoin cryptocurrency is predicted to grow by 379%

A popular crypto analyst known by the pseudonym TechDev predicts significant growth for the flagship cryptocurrency. The trader closely monitors global liquidity cycles by comparing the Chinese 10-year bond (CN10Y) with the US dollar index (DXY). According to the chart published by the crypto expert, global liquidity is on the verge of an uptrend as major central banks expand their balance sheets. The chart also shows that bitcoin seems to be «following in the footsteps of global liquidity.» The analyst suggests that BTC will show a sharp increase in the coming months.

«If bitcoin continues on this path, it will reach a logarithmic growth curve by 2025 or earlier,» the crypto expert notes. TechDev explains that the upper limit of the logarithmic growth curve is likely to be in the price range of $ 100,000 to $ 140,000. With the average price of BTC at $ 29,200, reaching the $ 140,000 mark will mean an increase in the price of the crypto asset by almost 80%.

TechDev emphasized that the three-week chart of altcoin market capitalization is in its strongest compression ever, while the width of bitcoin’s Bollinger Bands is hovering just above 0.50, which is a relatively low level. According to the chart shared by the analyst, BTC may have a strong uptrend. He explains that the last three times BTC’s Bollinger Bands approached 0.50, the price of the main cryptocurrency showed a bullish trend.

At the time of writing, the flagship cryptocurrency is trading at $ 29,440, which is 1.88% higher than yesterday. The asset’s market capitalization is $ 618.1 billion, and daily trading volumes exceeded $ 20.5 billion. Bitcoin’s market share is 48.6%.