Will Bitcoin hit an all-time high soon?
With U.S. President Donald Trump passing the "Big and Beautiful Bill" and the U.S. Dollar Index showing weakness, Bitcoin could get a bullish push from here, reaching new all-time highs. Historically, Bitcoin has an inverse relationship with the U.S. dollar, therefore, Bitcoin should continue its ascent from here. Moreover, Bitcoin effectively tracks the global M2 money supply, so its rise to $170,000 is anticipated.
Cryptocurrency market experts remain divided on Bitcoin's next direction from here. Veteran trader Peter Brandt anticipates a rise to $190,000, however, Arthur Hayes expects a drop to $90,000 before the Jackson Hole event in August.