Bitcoin is anticipated to experience a significant rise in the coming weeks as global liquidity shifts towards crypto and risk assets. Andre Dragosch from Bitwise predicts an increase in global money supply, supporting a Bitcoin price rebound.
Factors Driving Bitcoin's Rise
As the U.S. dollar weakens, Bitcoin is gaining momentum. The U.S. Dollar Index (DXY), tracking its strength against other currencies, is dropping, which could further boost Bitcoin's price. Andre Dragosch believes that if the current trend continues, global money supply will soon reach new record levels.
Upcoming Rally and Expert Opinions
Analysts like Colin Talks Crypto are watching the M2 money supply for signs of a Bitcoin breakout. Historically, Bitcoin's price tends to rise when global liquidity increases. An upcoming rally is expected to be impressive.
Strong Sentiment for Bitcoin Reserve
Despite potential congressional support challenges, plans for a strategic Bitcoin reserve are being discussed. Experts remain confident it is forthcoming, with Matt Hougan from Bitwise forecasting the reserve will be entirely made up of Bitcoin.
In a shifting economic landscape, Bitcoin remains a key asset for investors. The anticipated surge could be a significant event in the cryptocurrency world.
