An analyst believes that the price of Bitcoin could double to $140,000 within three months. Pseudonymous analyst TechDev noted that whenever Bitcoin closed two consecutive months above the upper Bollinger Band in the past, its price doubled in the following three months. The analyst shared this prediction with their 440,000 followers on X. Bollinger Bands are a technical tool that measures the momentum and volatility of an asset within a specific range. While they can indicate overbought or oversold signals, they are reactive rather than predictive. SkyBridge Capital CEO Anthony Scaramucci also expressed optimism regarding Bitcoin’s future price. He predicted that Bitcoin could reach as high as $170,000 and eventually trade at half the value of the global gold market. Scaramucci believed that the recently approved spot Bitcoin exchange-traded funds (ETFs) would drive increased demand for the cryptocurrency. He pointed out that nine out of the ten spot Bitcoin ETFs have already seen over $12 billion in net inflows. Additionally, he viewed the upcoming Bitcoin halving as a significant catalyst for short-term price appreciation. Ripple CEO Brad Garlinghouse shared Scaramucci’s optimism and predicted that the entire crypto sector would be worth $5 trillion by the end of the year. He cited factors such as the upcoming halving, regulatory developments, and the growing popularity of Bitcoin ETFs as contributing to wider crypto adoption.
BTC's potential to double by July indicated by Bitcoin Bollinger Band signal