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Bitcoin Milestone Ahead: Analyst Bullish On BTC Hitting $36,000

Press Releases Crypto News Bitcoinist Bitcoin Milestone Ahead: Analyst Bullish On BTC Hitting $36,000

Recently, investor sentiment has improved, pushing Bitcoin’s (BTC) price to a year high amid a spree of spot ETF applications by top US-based asset managers. Since the ETF buzz, the crypto asset has been fighting to sustain new-found support while claiming higher positions.

Amid this development, several analysts predicted a massive price surge for the world’s largest cryptocurrency by market capitalization. A top analyst, managing partner, and founder of Fairlead Strategies, Katie Stockton, dropped a bold price prediction for BTC.

Stockton’s Bullish Bitcoin Price Prediction

The analyst made this forecast during an appearance on the latest episode of CNBC’s Squawk Box television program. According to Stockton, Bitcoin’s price could spike to $36,000. Stockton cited Bitcoin’s recent breakout, which preceded a similar trend in stock prices, as a signal for more potential rallies.

She drew attention to a decline in the volatility index, which she believes foretells an uptrend for BTC and the equity market. The analyst’s prediction comes as the crypto market rides high tides of volatility with surging asset prices despite the global economic meltdown.

BTC’s price showed resilience despite occasional market turmoil and bearish sentiments. Over the past weeks, the asset conquered the $25,000 consolidation level, pushing over $30,000 in the wake of the spot BTC ETF buzz.

Stockton also spoke about the equity market’s performance, comparing Bitcoin’s correlation with stocks. S&P 500’s price breakout in mid-May and the overall momentum on the NASDAQ market match BTC’s price movement. The move reaffirms the correlation between the crypto and traditional financi

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Author: Kent Glory

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