Analyst: Bitcoin to Shock $150,000 in Next 'Explosive' Rally

On October 6th, the cryptocurrency analyst "CrediBULL Crypto" declared that after reaching a new all-time high on Sunday, Bitcoin might experience further growth in the upcoming weeks. "Since we have established a new high in a robust manner, the next upward movement above $150,000 has commenced." The analyst mentioned that we will "directly break through" the current level, suggesting that another high point may occur this week. However, he did not rule out the possibility of a pullback to the range between $108,000 and $118,000. "If the price retraces to the range between $108,000 and $118,000, it is an excellent opportunity to get involved; if not, then simply enjoy the journey all the way to above $150,000." The long-term trader "Crypto Chase" also expressed a similar view and predicted on Sunday that "a new round of gains is very likely." He added that if Bitcoin is truly strong, "the pullback will be very limited." The Chief Operating Officer of BTSE, Jeff Mei, stated: "We believe that due to the U.S. government shutdown and other monetary pressures, investors may regard Bitcoin as a safe haven asset, serving as a diversification from the dollar and U.S. debt. He further added that the dollar is depreciating. If interest rates decline further, it may depreciate even more. "It is logical for investors to allocate more funds to other currencies and Bitcoin."