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Bitcoin Is Now In One Of The Best Positions In History – BTC Eyes The $1 Million Target In The Long Run

Bitcoin enthusiasts are waiting for the halving which is only a few hours away. The crypto market is flooded with all kinds of predictions amidst the really volatile market these days.

Raoul Pal from Global Macro Investor breaks down the potential paths ahead for Bitcoin.

Bitcoin is in one of the best positions

He said that the king coin is currently in one of the best positions of any asset that he’s ever seen.

He says that BTC is trading inside a “perfect wedge” that he believes is a precursor to a massive new bull run.

The first depiction of the wedge using traditional charting techniques has BTC targeting $40k.

In the long run, Pal sees BTC hitting $1 million.

Pal says that Bitcoin is displaying a move to $400k – $1 million. His analysis is pretty similar to the one of PlanB.

“Whatever plays out, after a key technical break like today, the probability of vastly higher prices has risen dramatically. And this is confirmed by the stock to flow models by PlanB and the breakout has happened almost exactly at the halvening,” he said.

Pal said that he’s got 25% of his liquid net cash in BTC, and 25% in gold. He’s reserved another 25% for trading and he plans to keep his last

Pal says he recently allocated 25% of his liquid net cash to Bitcoin, along with 25% to gold. He’s reserving another 25% for trading opportunities and plans to keep the last 25% in cash.

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