There are still a lot of optimistic predictions about the price of Bitcoin these days. Check out the latest reports about all this below.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $23,544.
Bitcoin price predictions are optimistic
Macro expert Lyn Alden says that macroeconomic conditions hint at further Bitcoin (BTC) rallies over the next several months, but with a caveat.
In a new interview with Natalie Brunell, Alden explained the fact that Bitcoin has historically proved to be a decent play on USD liquidity, usually rising in price alongside an expansion of the money supply.
She says that recently, a slight easing of liquidity has helped set the stage for BTC’s rallies over the past several weeks. She is predicting more and more appreciation in BTC’s price.
“Historically, Bitcoin has been one of the purest liquidity plays. When you look at various measures of domestic or global liquidity, generally, when liquidity is rising, it’s pretty good for Bitcoin and when liquidity is falling, Bitcoin is usually going down or sideways. Starting around the beginning of Q4 of last year, some of the liquidity indicators started to bottom and turn back up, at least temporarily.”
She continued and explained the following:
“I think that much like other assets that rallied, I think Bitcoin would have had a rally back then if not for the whole FTX debacle. So that kind of delayed the rally but with that somewhat resolved, and now moving forward, I think Bitcoin and other assets in the ecosystem are kind of having their rally which is really a liquidity rally.”
“Basically, liquidity indicators look okay for the next couple of months, but overall, long term, they’re still not in a very good place,” she said.
Stay tuned for more news from the crypto space.