Bitcoin (CRYPTO: BTC) has opened the week down 1.5% on Monday, which nonetheless may be part of a bottom formation, according to a veteran investor.
Bitcoin Rally After July 29?
In a podcast with Anthony Pompliano on July 12, veteran macro investor Jordi Visser said Bitcoin is showing technical signs of a bottom after registering its first bullish RSI divergence since the market peak.
He added that while another move toward $50,000 or even $45,000 cannot be ruled out, Bitcoin is likely to trade above $100,000 within a year.
Visser said his outlook is supported by a shift in macro conditions, arguing that expectations for additional Federal Reserve rate hikes have become too aggressive.
