Bitcoin (BTC) could have up to 27% potential for rise in the current cycle, according to an analysis. Canary Capital's CEO Steven McClurg stated in a CNBC interview that there is over 50% possibility for Bitcoin to reach the $140,000-$150,000 range before entering a bearish market next year. This calculation suggests a potential rise of 19% to 27% from the current price of $117,867.
McClurg expressed deep concerns about the potential slowdown of the US economy. In the interview, he assessed that the current economic situation is "not desirable at all" and emphasized that the Federal Reserve (Fed) should have already lowered interest rates in the past two FOMC meetings. He believes rate cuts in September and October are highly likely, with the CME FedWatch Tool also reflecting a 92.5% probability of a September rate cut.
McClurg's forecast is drawing attention among investors considering stable profit realization amid overheating signals. He warned that the current Bitcoin rally might be the last rise before entering an adjustment phase when comprehensively considering macroeconomic indicators and monetary policies. His statements are optimistic in the short term but provide significant insights for investors regarding the need for special response strategies to medium and long-term risk factors.
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