"Bitcoin $140,000, XRP $7"...What are the chances of crypto's May miracle?

▲ Bitcoin Cash (BCH), XRP (XRP)/ChatGPT generated image

An analysis suggests that a historic rally will unfold, with Bitcoin (BTC) breaking past $140,000 and XRP soaring to $7.

According to NewsBTC on April 23 (local time), crypto asset analyst RWA Investor predicted that Bitcoin and XRP would soon break their historical highs, recording a parabolic rise. The analyst explained that this bull market is not just wishful thinking but a result of psychological analysis, stating that the time for investment capital to truly enter the market is approaching.

RWA Investor predicted that Bitcoin would reach $140,000 and XRP would hit $7 in May. Based on wave theory, he analyzed that the market is currently at a sharp inflection point, transitioning from a downtrend to an uptrend, and the upward momentum will be maximized as capital that had been observing from the sidelines and bearish investors enter the market. In particular, he diagnosed that progress on the US crypto market structure bill (CLARITY) and news of interest rate cuts would be crucial catalysts for this rally.

Currently, the market is coexisting with uncertainties due to external variables. This is because concerns about inflation have arisen due to the conflict between the United States and Iran, making it highly likely that the Federal Reserve (Fed) will freeze interest rates for the time being to achieve its price stability target. However, as former US President Donald Trump extended a ceasefire, showing his intention to end the war, optimism is spreading throughout the market.

Another crypto asset analyst, Michaël van de Poppe, assessed that Bitcoin has already found its bottom. He analyzed that Bitcoin's fair value remains high, and the strength of the tech stock market, with the Nasdaq index breaking new highs, is acting as a support line for the crypto asset market. He explained that after Bitcoin continues its upward trend towards $90,000 and enters a consolidation phase, altcoins will begin to receive significant attention.

The crypto asset market is preparing for a new leap forward, keeping a close eye on macroeconomic indicators such as legislative developments and the direction of interest rates. The attention of investors worldwide is focused on whether major assets, including Bitcoin and XRP, can secure a path towards historical highs. Market participants are advised to be aware of increased price volatility and closely monitor whether the target prices suggested by analysts are achieved.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*