Economist Henrik Zeberg predicts that Bitcoin (BTC) could reach a price of $111,000 due to the convergence of a technical indicator and a bullish market structure. Zeberg explains in a recent video update on Trade Gate Hub that the top cryptocurrency could experience a significant surge to six figures by August, based on a key indicator. He notes that historically, Bitcoin enters a parabolic phase after its monthly relative strength index (RSI) surpasses 70. Zeberg anticipates a steep climb in Bitcoin’s price, stating that it could potentially reach over $200,000. However, his target price range is $110,000 to $115,000. Currently, Bitcoin’s RSI stands at 71, and it is trading at $66,115. Please note that this article is not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets.
