Bitcoin Price To Explode, Glassnode Co-Founders Say

Glassnode co-founders revealed that Bitcoin would see explosive moves soon. Check out the latest reports about this below.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $27,132.

The creators of one of the top on-chain analytics firms in the crypto space believe that Bitcoin (BTC) is gearing up for an explosive move to the upside.

As the online publication the Daily Hodl notes, Jan Happel and Yann Allemann say that Bitcoin is likely poised to break above the key resistance area at $30,000.

According to the Glassnode co-founders, the macro backdrop is starting to look favorable for Bitcoin.

“$25,800 still remains a possibility, as indicated by the options market.

Confident in our mid-term outlook of $35,000 as external pressures subside.”

The same notes continued and revealed the following:

“Market pricing Fed pause in June, no rate cut – optimal for the run to $35,000 for summer.

DXY (US dollar index) down, crossing below significant moving average – explosive moves ahead.”

MicroStrategy founder and executive chairman Michael Saylor believes that the banking crisis is great for Bitcoin (BTC).

Saylor says in a new interview on the David Lin Report that the flagship crypto asset is attracting “smart money” amid a currency and banking crisis.

“The meltdown in banks and the meltdown of currencies is driving a stampede of smart money to Bitcoin.”

He believes the fact that the loss of confidence in the existing monetary system is what is making “commodity monies” such as gold and Bitcoin attractive.

“you lose confidence in the currency, the banks, then you lose confidence in fiat currency as money. And therefore the money is dying. It’s obviously dying in Venezuela, it’s obviously dying in Argentina. But it’s dying everywhere in the world even in the United States and in Western Europe.”