CryptoQuant Announces Its Peak Target in Bitcoin and Glassnode Announces Its Short-Term Expectation! Will We See a Summer Rally in BTC?

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BitcoinAlthough it rose to $65,500 at the beginning of the week, it fell below $62,000 today with the declines it experienced afterwards.

Bitcoin Price May Reach 265 Thousand Dollars!

While investors are worried that the decline may deepen, Ki Young Ju, CEO of CryptoQuant, in his post He made a bold prediction, stating that Bitcoin has the potential to rise to $265,000.

BTC Arguing that the network fundamentals can maintain three times the market cap compared to the peak in the previous cycle, Ju based his claim on the Hashrate/market cap ratio.

“Bitcoin network fundamentals could support a market cap three times its current size compared to the last cyclical peak, potentially sustaining a price of $265K.”

Summer Rally May Be Seen in Bitcoin!

While expectations of $100,000 in Bitcoin are being revived, X is also known as Negentropic. Glassnode co-founder Yann AllemannA post about possible scenarios in BTC came from.

Stating that Bitcoin is currently about to break the pennant formation and the 50-day SMA trnd line, the famous name said that if BTC manages to break the 65,000-66,000 dollar level, He claimed it could reach $85,200 before summer.

Glassnode co-founder, who added a chart to his post showing that BTC is in the process of breaking the pennant formation and 50-Day SMA trend line, listed his price predictions for BTC:

“Bitcoin is currently in the process of breaking the Pennant and 50-Day SMA trend line.

“When BTC breaks the $65,000-66,000 level, it will first move to $73,500 and then to $76,500, and it is most likely that we will see $85,200 before the summer.”

*This is not investment advice.

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