Bitcoin (BTC) to $150,000, Says Top Analyst. BTC Bull Token Tipped to Generate 100X Returns

Seasoned investors understand that short-term drawdowns are a healthy part of a market cycle – and experts believe this is one such instance.

Bitcoin is trading at $80,600, down 2.6% this week and 25.8% from its January all-time high (ATH).

However, experts say now is not the time to be fearful. Instead, it’s the perfect dip-buying opportunity. Both Bitcoin and Bitcoin-related tokens like BTC Bull Token are expected to generate substantial returns in the months ahead.

Bitcoin to $150,000, Says Top Analyst

Seasoned investors understand that short-term drawdowns are a healthy part of a market cycle – and experts believe this is one such instance.

Though Bitcoin has retraced over 25% from its January peak, popular analyst CryptoELITES believes the next leg up starts now.

He notes that Bitcoin’s price chart displays a similar setup to two previous bullish legs that occurred this cycle.

Both times, Bitcoin formed a descending wedge pattern and broke to the upside when the relative strength indicator (RSI) hit oversold territory. And the exact same thing is happening today.

While the RSI is at its lowest level since Bitcoin traded below $30K, the $BTC price is currently showing strength at the descending wedge’s support level.

The analyst concludes, “Bitcoin’s journey to $150,000 has officially begun.”

However, in another tweet, he speculated that Bitcoin could go even higher, potentially reaching $180K. The analyst noted that Bitcoin made a 31% drawdown from its peak and has since started to bounce.

He highlighted that before the last two rallies, Bitcoin had experienced 23% and 33% drawdowns.

Based on chart data and historical price action, Bitcoin appears to be preparing for a strong bullish move. And adding to the excitement, fundamental factors also indicate a positive outlook for the months ahead.

Macroeconomics Favor a Bitcoin Bull Run

As the price of US Treasury bonds decreased, US President Donald Trump was forced to ease off on his aggressive trade tariff strategy. In its place, he has provided trading partners with 90 days at 10% taxes while they established new trade agreements with the US.

This proved highly beneficial for financial markets, with the S&P 500 index gaining 9.52% on Wednesday, marking one of its biggest days since World War 2.

Crypto prices also boomed, with the sector booking a 5.5% gain.

Meanwhile, on Thursday, US inflation data came in at a six-month low, another positive macroeconomic factor. Lower inflation allows the Federal Reserve to cut interest rates, which boosts liquidity for risk-on assets such as cryptocurrencies.

According to the CME FedWatch tool, there is a 33% chance of a rate cut in May’s FOMC meeting and a 59% chance that rates will be cut by June.

From a macroeconomic and technical analysis standpoint, Bitcoin is in a strong position for growth. And we haven’t even considered the impact of increased retail and institutional demand – plus the US potentially purchasing Bitcoin to build its strategic reserve.

Yes, Bitcoin’s price is down, but this creates a prime buying opportunity.

And if Bitcoin rallies, it will allow Bitcoin-related tokens to soar. One that is generating a lot of interest right now is BTC Bull Token.

New Bitcoin Meme Coin BTC Bull Token Tipped For 100X Gains

BTC Bull Token will be the first cryptocurrency to pay its holders real Bitcoin rewards.

On the surface, BTC Bull Token is a meme coin. Its social media channels feature a bull mascott and a funny vibe. But dig a little deeper, and you’ll see that this project’s real power is its reward-based economy.

BTC Bull Token will airdrop holders Bitcoin and $BTCBULL tokens at key milestones on Bitcoin’s journey to $1 million. Moreover, it has a staking mechanism that currently offers a 91% APY.

Holders can also benefit from the project’s token burns, which will destroy portions of the $BTCBULL supply at Bitcoin price milestones.

The project combines memetics and reward initiatives while being deflationary. It’s a compelling setup that’s drawing attention from top analysts. For example, Umar Khan from the 99Bitcoins YouTube channel says the project could give 100x gains.

BTC Bull Token is currently undergoing a presale and has raised $4.5 million so far. The presale allows investors to buy at a ground-floor price, which is why Khan believes it could yield such substantial gains.

However, the presale price will increase throughout the campaign, so potential investors should act quickly.