TechDev: bitcoin will reach a five-year record in value

An analyst under the pseudonym TechDev believes that bitcoin BTC $94,427.50 Bitcoin 0.16% Market capitalization $1.88 trillion VOL. 24 hours $1.28 billion is at the beginning of a new large-scale growth that could be the most powerful in the last five years. He points to a technical configuration that has repeatedly preceded rapid increases in the BTC price in the past. According to him, if history repeats itself, bitcoin could rise six times from its current level.

In his analysis, the crypto expert refers to the dynamics of global liquidity, the total amount of money in the financial system. He notes that during the previous liquidity surge in 2020, when gold also showed rapid growth, bitcoin jumped by 500%. Today, according to the analyst, the market is in a similar state — liquidity is on the rise again, and this could become the basis for a new BTC breakthrough.

TechDev also draws attention to capital rotation — the transfer of investments from gold to bitcoin. He considers this trend to be recurring and typical for phases of increased interest in cryptocurrencies amid the general overheating of traditional assets. Combined with a favorable phase of the business cycle, this creates conditions for a «parabolic» increase in the value of bitcoin.

At the time of writing, BTC is trading at around $ 94,688. The analyst believes that, given the current macroeconomic conditions and liquidity dynamics, the main cryptocurrency is only at the start of a new wave of growth, which can significantly outperform the previous ones.

Although such forecasts are not a guarantee of future results, they reflect the increased expectations of a part of the market that is guided by macrofinancial indicators and historical patterns in the movement of the bitcoin price.