The Bollinger Bands, a tool used to gauge the level of volatility and strength of a trend, are currently indicating an unusual tightness on the weekly chart for BTC/USD. Bittel, an expert in the field, pointed out that such compression has only occurred twice in the past – once in April 2016 and again in July 2023. Interestingly, both instances were followed by significant increases in Bitcoin’s price over the next twelve months. This observation suggests that a similar outcome could potentially be expected at present. If historical patterns hold true, it is possible that Bitcoin’s price could reach anywhere between $140,000 and $190,000. Stay up to date with the latest technology news by visiting NEWSLINKER.
