The economist and expert of the Consulting company Cane Island Alternate Advisors said that bitcoin can reach $ 138,000 and even exceed this bar in the next three months – thanks to macroeconomic factors.
Timothy Peterson noticed that the US dollar index (DXY) continues to be lower than 100 points, which is one of the lowest levels over the past three years:
“I am waiting for the repetition of the January historical maximum of the first cryptocurrency. Now the correlation level BTC and USD is unprecedented. Communication is not causal, but reflects the basic conditions affecting both assets. Bitcoin will break this connection and begin to grow when real profitability falls and liquidity will return to the market. ”
According to the economist, the first cryptocurrency now exists in very unusual economic conditions due to the continuing trade war of the United States. But even in a difficult market setting, Bitcoin demonstrates amazing stability.
As the role of bitcoin as a means of savings will grow, its value can be equal to the value of physical gold. The number of small and large investors who want to keep the asset on their balance sheet will necessarily increase, the expert is convinced.
Earlier, the experts of The Block reported that the number of Bitcoin search queries in Google has reached 34 points in March, which is the maximum indicator from the beginning of the year.
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Source: Cryptocurrency
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