Bitcoin has reached 123,000 USD as the US grapples with a significant debt crisis. Historically, July is a strong month for Bitcoin, with gains often exceeding 20%. This week’s trend suggests continued bullish momentum and potential price targets ranging up to 135,000 USD.
Traders predict further upside for BTC. Keith Alan noted that Bitcoin’s chart pattern supports potential growth before hitting a cyclical peak. The implication of rising prices reflects investor sentiment in an unstable economic climate, particularly surrounding inflation data.
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