Bitcoin Could Reach $150,000 Soon if Key Indicator Signals Green Light, Warns Jamie Coutts – The Daily Hodl
Crypto analyst Jamie Coutts suggests that a key indicator for Bitcoin rallies in Q2-Q3 is on the verge of turning bullish for BTC.
Coutts highlights the significance of the dollar index (DXY) in determining Bitcoin’s performance, noting its inverse correlation with risk assets.
He points out that historically, Bitcoin rallies during the summer months have been triggered by a weakening dollar index.
According to Coutts, a break below the 101 mark for the DXY could potentially set off a significant rally for BTC, with a target price of $150,000 based on past DXY movements.
Bitcoin is currently trading at $67,759.
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