While bitcoin is trading in an ambiguous style around the level of $37,000 per coin, and news suggests that many miners are turning off their equipment, and China and the United States are planning to seriously tighten the regulation of the cryptocurrency sphere, some crypto experts, billionaires, and investors continue to piously believe that digital gold will rise in the near future. Earlier, we have repeatedly said that it is clearly not worth listening to forecasts that say bitcoin will rise to a certain price. Many investors continue to own bitcoin, which means they are interested in seeing it rise in price again. And this can only be achieved by attracting new investments and investors to the market. Therefore, all owners of bitcoin (especially large ones) will tell you that BTC will resume an upward trend tomorrow. This is exactly what the head of Heisenberg Capital Max Keiser does, who is sure that Bitcoin will rise in price to $220,000 in 2021. In his opinion, the American currency now has serious problems due to the very aggressive monetary policy of the Federal Reserve System. In other words, the dollar is facing high inflation and depreciation due to the printing press not shutting down for a minute. This is what we have talked about many times in our articles on the euro/dollar and pound/dollar currency pairs, by the way. Therefore, according to Max Keiser, large corporations and firms are increasingly buying bitcoin to save themselves from inflation. He also believes that MicroStrategy's $1 billion purchase of bitcoin was a watershed moment for the entire market. Keiser himself is waiting for the update of the absolute highs of bitcoin by June 4. Recall that bitcoin is currently trading at $37,000, the absolute highs are located at about $65,000. But no one forbids anyone to make crazy predictions. The only exception, probably, is Elon Musk, thanks to whom the number one cryptocurrency in the world regularly "flies" from side to side. So, probably now, many investors really would not want Musk to comment on "digital gold" again. In general, there are no preconditions for bitcoin to jump upwards.
Technically, bitcoin tried to gain a foothold above the Ichimoku cloud on the 4-hour timeframe, but it just perfectly worked out its upper Senkou Span B line, bounced off it, and began a new round of downward movement. Thus, we still believe that in the next few days the bitcoin quotes may return to the levels of $30,500 and $29,873. If the overcoming of these levels does not occur, the period of consolidation for bitcoin will continue between the levels of $32,000 - $42,000. And if the overcoming happens, the fall of bitcoin will continue.
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