bitcoin, It is showing signs of recovery after the sharp decline in June.
Katie Stockton, Founder and Managing Partner of Fairlead Strategies, a technical analysis firm, shared her bullish view on BTC in an interview with CNBC. She said that Bitcoin found support at $25,000 and started to bounce back.
Katie Stockton Points to $36,000 in Bitcoin Price
“According to our estimates after the recent rally, there may be room to rise to the $36,000 level,” Stockton said.
Stockton cites the recent drop in Bitcoin before a similar rise in the equity markets as a key indicator of this potential rise.
Also, both BTC He also pointed to the decline in the volatility index, which he believes is a harbinger of the rise in the stock market.
During the CNBC “Squawk Box” interview he attended, he also touched on the performance of the Stockton stock market and drew attention to the correlation between Bitcoin and the stock market.
After BlackRock issued and re-applied its Bitcoin Spot ETF, the BTC price rose above $31,000 today and is trading at $31,216 at the time of this writing.
*Not investment advice.
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