The head of research at FalconX, David Lawant, predicts that the next few months will bring significant upside volatile moves for Bitcoin (BTC). Lawant points to the current discount on Coinbase BTC premium as a signal of potential market conditions similar to those seen in August 2023, just before a rally that saw Bitcoin reach record highs close to $74,000.
The Coinbase Bitcoin premium index tracks the price difference between BTC on Coinbase Pro and Binance, reflecting buying pressure from US investors. A deeply discounted premium indicates weak buying pressure from the US market, which has historically coincided with Bitcoin price bottoms. Lawant believes that US investors will return in the coming months, leading to a potential surge in Bitcoin prices.
Macro guru Raoul Pal also sees positive momentum for crypto, noting that the “Banana Zone” or a period of sustained uptrend for digital assets is approaching. Pal highlights that stimulus packages during election years typically lead to higher inflation and prices for Bitcoin and crypto. He predicts a bullish period ahead for assets like Bitcoin, Ethereum, and Solana.
Lawant and Pal’s positive outlook align with a current Bitcoin price of $62,113. Despite potential volatility, both experts anticipate strong performance for Bitcoin and other cryptocurrencies in the coming months. Investors are advised to stay informed and follow updates on social media platforms like X, Facebook, and Telegram for the latest market insights. Subscribe for email alerts to stay updated on market trends and potential opportunities.
