Bitcoin Price Could Explode By 379% If This Indicator Is Correct

A well-known crypto analyst, who goes by the name TechDev, has recently revealed that Bitcoin (BTC) may experience a significant surge if a particular key indicator continues to follow historical data.

TechDev is closely monitoring global liquidity cycles. To illustrate this, TechDev is comparing the Chinese 10-year bonds (CN10Y) against the US dollar index (DXY).

The analyst also provides further information on global liquidity cycles by comparing the metric against the aggregate major central bank balance sheet, which tracks the money-printing activities of reserve banks worldwide.

According to a chart shared by TechDev, global liquidity seems to be on the verge of an uptrend, as major central banks are expanding their balance sheets.

The chart also reveals that Bitcoin appears to closely follow global liquidity, indicating that BTC may experience rapid price acceleration in the coming months.

Based on its current trajectory, Bitcoin could potentially reach TechDev’s logarithmic growth curve (LGC) by 2025 or earlier. LGCs are used to predict the long-term highs and lows of Bitcoin, while disregarding short-term volatility.

TechDev estimates that the upper limit of the LGC is likely to fall between $100,000 and $140,000, but this is only a rough approximation based on specific curve parameters and impulse steepness.

Given that BTC is currently trading at $29,186, reaching $140,000 would result in an almost 380% price increase.

The leading cryptocurrency by market cap has experienced a 0.68% decrease in the last 24 hours, but has seen a small increase of nearly 0.5% in the past week.

However, Bitcoin is still down by almost 58% from its record high of over $69,000, which was recorded in November 2021.

Additionally, TechDev has observed that the altcoin market cap chart for the past three weeks is currently at its highest level of compression ever seen, and Bitcoin’s Bollinger bands width (BBW) is hovering just above 0.50 – a relatively low level.