In a recent update, Glassnode co-founders Jan Happel and Yann Alleman have made a bold prediction regarding Bitcoin's market trajectory. They believe that the leading cryptocurrency could reach a peak within the next 45 weeks, fueled by strong momentum indicators. According to the official information, this forecast is supported by various analytical metrics that suggest a bullish trend ahead.
Risks for Short Traders
The analysis, shared via their X account, highlights the risks for traders who are currently shorting Bitcoin, suggesting that they may be unprepared for an impending price surge. The last time similar momentum signals were detected was in October 2023, hinting at a potential bullish phase on the horizon.
Institutional Interest and Price Surge
Moreover, the growing interest from institutional investors is playing a crucial role in this anticipated price increase. Bitcoin is currently trading close to its all-time high, with significant accumulation taking place across various exchanges. This further solidifies the bullish outlook presented by Happel and Alleman.
