Bitcoin Price Forecast – Bitcoin Continues to Trade in a Range…

If the market can break above $74,000, that would obviously change things, but right now there are a lot of questions as to whether or not the Federal Reserve can loosen monetary policy as much as people had hoped. And if it can’t, that actually works against Bitcoin. Remember, Bitcoin is born of the idea of limited money, sound money, as opposed to fiat currencies, and if fiat currencies aren’t being printed wildly like people had anticipated, that makes Bitcoin a little less attractive because quite frankly, you can’t really use it for anything.

So, at this point in time, I think we remain range bound. I think this pullback does end up being bought into, especially near the 50 day EMA and the $62,000 level. Again though, we could break higher and if we do reach $70,000, we’ll attract a lot of attention as a potential target or resistance.

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