Bitcoin Breaks $70K—When Will It Hit a New All-Time High? | Markets Outlook

We think it can go back to something like 80,000.

I think it reminds me a little bit, uh, of, um, ki- kind of like October, um, 2022.

Uh, it's not gonna take 100% rally, but I think we're gonna see traders kind of adding to positions, adding to risk as soon as they're mon- gonna be more, uh, in profit.

And there's certainly a couple of interesting levels.

And historically, if you just use the 21, uh, week moving average, you would've done really well.

You would've sold at 100, uh, 12,000, which we sort of, uh, recommended in, in October last year.

Um, and you would've only been buying once really, uh, during these last kind of like eight, eight, nine, uh, 10 months really.

There's been a lot of churn going on over the last literally kind of like 10 months.

Uh, and we have stayed at the 60,000 level really since, uh, early February, more, more or less, uh, the whole time.

So the average of the market, the average entry price has gone, you know, moved a lot lower now.

So again, if you start to rally, a lot of people are gonna feel more, more confident in the market.

Their P&L is up.

They're gonna increase the leverage, and I think then it can be, uh, you know, a push higher.

And I think we're having also the tailwind really, I think, from, you know, from the Fed, even they talk hawkish, but I think the market is gonna trade this, uh, a little bit more dovishly.

Markus, I'm gonna ask you for a little bit of speculation here.

I don't think I've asked you this for a while.

I mean, 80,000's still quite below, uh, Bitcoin's all-time high.

When do you think we get to a new all-time high?

I mean, you know, if you're gonna get to a new all-time high, it's gonna take, you know, at least a year from now because it's gonna take a lot of capital to push the market higher.

Really, to push Bitcoin, uh, quite high up from here, I think it's gonna take, um, you know, a lot more, I guess, a lot more catalysts, a lot more narratives.

And I think when we look back again at the Trump election, because people were very, you know, eu- euphoric, and, you know, he was supposed to be the crypto president, like, nobody was willing to sell.

But I think here the problem is really that, uh, we have traded at these levels, uh, before.

So some people, you know, have bought at 90.

They might be happy to get back, you know, get, get out of 90.

But back then, you know, after the Trump election, we didn't really trade at, uh, you know, at 80,000 before.