Bitcoin Could Soar 200% This Cycle If This Happens
Portfolio Pulse from Bibhu Pattnaik
Real Vision analyst Jamie Coutts predicts that Bitcoin (BTC) could surge by 200% in its current cycle if the U.S. Dollar Index (DXY) drops significantly below 101. This forecast is based on continued central bank injections, particularly from the Bank of Japan (BoJ) and the People's Bank of China (PBoC), which have significantly contributed to global liquidity.
August 17, 2024 | 5:45 pm
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Bitcoin could see a 200% increase if the U.S. Dollar Index drops below 101, driven by central bank liquidity injections from BoJ and PBoC.
The prediction by Jamie Coutts is based on a significant drop in the U.S. Dollar Index, which is contingent on continued central bank injections. The BoJ and PBoC have already contributed significantly to global liquidity, which is a key factor in Bitcoin's potential bullish phase.
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