Bollinger Bands founder John Bollinger sees bullish sentiment for Bitcoin ahead of potential ETF approvals.
Legendary Investor John Bollinger Made Bitcoin (BTC) Price Prediction
Legendary Bitcoin (BTC) investor and creator of the Bollinger Bands strategy, John Bollinger, is optimistic about the future of the digital currency.
Making a statement on the official X account, John Bollinger predicted that the Bitcoin price would rise even higher from its current position, based on the information he obtained from the Bollinger Bands chart he shared.
Bitcoin price is having one of its toughest weeks in months this week, as it fell as low as $40,000 on what many experts labeled a misleading report from Matrixport regarding the potential rejection of spot Bitcoin exchange-traded fund (ETF) applications by the United States Securities and Exchange Commission (SEC). lived one.
Bitcoin bears took advantage of this news and made a huge sale, and the total liquidation in the market at that time exceeded $650 million. Bitcoin's decline dragged altcoins as well, and many of them have yet to recover.
Bollinger's prediction comes at a time when Bitcoin's price has risen to $44,727 in the last 24 hours.
During the overnight recovery, BTC broke the psychologically important resistance level of $43,000. If Bollinger's prediction comes true, Bitcoin could turn this level into support.
*This is not investment advice.