Bitcoin continues to conquer new heights, reaching an impressive record of $119,000 amidst active work by lawmakers in the digital asset space in the U.S.
Key Events Overview
Several significant events have transpired in the cryptocurrency space over the past few days:
- July 11: The House Financial Services Committee expressed its intent to support cryptocurrency initiatives, signaling potential regulatory clarity ahead. - July 11: Binance founder Changpeng Zhao stated: "Bitcoin is still in a dip… future dips will also occur." - July 12: President Trump announced the imposition of 30% tariffs on goods from the EU and Mexico, increasing macroeconomic volatility but strengthening Bitcoin as a hedge asset. - July 13: Bitcoin reached a new record at $119,000.
Expected Events from July 14-18
Significant legislative activity is anticipated this week:
- Discussions on the CLARITY Act, GENIUS Act, and anti-CBDC bill are scheduled. - The passage of these bills or positive headlines could attract new investors to the cryptocurrency market. - Additionally, based on recent news of record inflows into bitcoin spot ETFs, colossal investment volumes exceeding $1 billion in a single day may occur.
Bitcoin Price Predictions
Based on current trends and technical indicators, several scenarios are possible:
- The base case predicts a brief pullback to $112-115K, followed by upward movement toward $128-135K if news remains favorable. - An alternative scenario suggests a sharp decline to $100-105K if legislative measures turn negative. - Key targets in the near term: $128-135K this week, $150-165K by July, $200-240K by the end of 2025.
Given the active discussions and initiatives, the interaction between the legislative process and the cryptocurrency market may lead to new records for Bitcoin, opening up new horizons for growth.
