Macro Bitcoin Analyst Predicts Bitcoin Started Rally Towards $100K

A Macro Bitcoin analyst predicted that Bitcoin already started its rally towards $100K over the recent weeks. BTC now trades at a multi-year high of $16,000 and is signaling that it wants to break higher so let’s check on the latest Bitcoin news today.

According to one Macro Bitcoin analyst, Josh Rager, BTC is on the verge of an exponential uptrend. Rager noted that each time BTC closed above this monthly all-time high, a 700-1000 percent uptrend followed. Bitcoin will have to close November’s monthly candle above $14,000 to print this signal. BTC started to rally over the recent weeks and gained 50% in the span of 30 days. Bitcoin currently trades at a multi-year high of $16,000 and is signaling that it wants to break higher. According to the macro analysis by Josh Rager, BTC is on the verge of an exponential uptrend.

The trader shared a chart below noting that each time “Bitcoin closed above the previous monthly all-time high” about 1000 percent uptrend followed suit. Bitcoin will likely do this once again if November closes at $14,000. Every time the benchmark cryptocurrency closed above the previous monthly high, a 700%-1000% uptrend followed. November could be the first close that we see breaking these highs and that’s been a very bullish sign for the market. Rager is not the only one that believes that BTC could hit $100,000 and beyond in the upcoming few years. The Winklevoss Twins, the co-founders of Gemini stated that BTC could hit $500,000 in the upcoming years because of its potential to surpass gold:

 “Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or BTC will outrun the scourge. And money stored in BTC will run the fastest, overtaking gold… Nonetheless, we believe that BTC will continue to cannibalize gold and that this story will play out dramatically over the next decade. The rate of technological adoption is growing exponentially. Software is eating the world and gold is on the menu.”

Raoul Pal, the CEO of Real Vision and former hedge fund manager, stated that BTC could hit $1,000,000 in this market cycle. He also believes that the institutional investments in crypto will drive the rally. Pal stated that he has over 60% of his net worth in BTC and ETH, and he believes that the crypto market could be the best trade of his lifetime.