Leading Trader Unveils Bitcoin Price Expectations for June
Renowned trader and technical analyst Chris Vermeulen has forecasted that Bitcoin, a top cryptocurrency by market capitalization, could soar to as high as $135,000 in June.
Vermeulen notes that Bitcoin is currently displaying a pattern reminiscent of late 2024.
“The chart is set and ready. We are bullish on Bitcoin, and it is on the verge of a significant breakout,” he stated.
At present, Bitcoin is trading at $109,879, according to CoinGecko data.
The leading cryptocurrency has seen an increase of nearly 3% over the past week.
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Last week, Bitcoin achieved its current all-time high, reaching approximately $112,000 on the Bitstamp exchange.
This cryptocurrency has undergone a significant rally, largely fueled by a surge in ETF inflows and strong institutional interest.
Numerous strategies and their clones are consistently acquiring more coins, which contributes to the gradual price increase.
As covered by U.Today, JPMorgan anticipates that Bitcoin will outperform gold in the latter half of the year. In addition to institutional and corporate support, Bitcoin is also poised to gain from state-level strategic reserve legislation.
Meanwhile, “Rich Dad Poor Dad” author Robert Kiyosaki is confident that Bitcoin could reach $250,000 this year.
Analysts from the banking giant Standard Chartered continue to uphold their Bitcoin price prediction of $200,000.
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