Crypto Analyst Calls for Bitcoin Price to Increase by $40,000 in 60 Days and Macro Environment can build a case exactly for this. Bitcoin is still around pushing out about $70,000, and many traders are watching the situation closely after weeks of volatility in global markets.
Bitcoin will soon have its turn
One market participant known as ₿ariksis suggested that Bitcoin price could rise from $70,000 to $110,000 in the next 60 days if the current macro and technical conditions are set up well.
Forecasts from ₿ariksis are based on the rotation of major assets. In recent weeks, the prices of gold, silver and crude oil have shown robust upward movements. Gold, silver and crude oil have already seen robust moves in recent weeks.
Both gold and silver we insisted recent all-time records in recent months, but Bitcoin has been left behind. Geopolitical tensions between the United States and Iran raised the price of crude oil above $100 per barrel, which is another type of rapid growth that could occur in all markets.
Bitcoin is already known for how quickly things can change, and this is a reminder that it is the leading cryptocurrency could be next in line quick sale. To go from $70,000 to $110,000 in 60 days would require an escalate of about 57%. This is of course variable, but it does not go beyond the historical nature of Bitcoin once momentum and liquidity equalize.
Bitcoin is already winning the battle for relative strength
The case for Bitcoin’s resilience was further exacerbated by BitMEX co-founder Arthur Hayes shared a normalized comparison chart of Bitcoin, gold and the Nasdaq 100 on February 28.
According to a chart shared by Hayes, Bitcoin has outperformed gold and the Nasdaq 100 since the U.S.-Iran war began on February 28. Bitcoin’s line is pushing out both gold and the Nasdaq over the period on the normalized performance chart, even as oil and gas price spikes have created the type of macro conditions that tend to punish risky assets.
Bitcoin gained about 7% over the measured period, while gold fell about 2% and the Nasdaq 100 fell 0.5%. “Compared to large and risky assets of a similar type, the BTC dollar has performed best against the surge in oil and gas prices,” Hayes noted.
There is a second layer to this story: institutional beliefs did not disappear during the turmoil. For example, Recently revealed strategy that it acquired another 17,994 BTC for approximately $1.28 billion, bringing its total holdings to 738,731 BTC.
The technical side the bullish case shows that Bitcoin’s price action is currently touching rising diagonal support that connects the lows of the major cycles of 2018, 2020, 2022 and now 2026. The latest touch is marked near the midway point of the $60,000 area, almost exactly where Bitcoin has been trying to stabilize.
Each prior interaction with this trendline has approached essential cycle lows, and each has been followed by a major recovery phase. According to a crypto analyst named Vivek San, Bitcoin was up 450% when this setup last appeared. The analyst forecast points to a return above $100,000 and then sketches a possible extension above $240,000 by 2027.
Featured image from Getty Images, chart from Tradingview.com
