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Bitcoin could bottom near $70 by October month-end, Gordon Johnson suggests

Bitcoin could bottom near $70 by October month-end, Gordon Johnson suggests
Bitcoin risk increases as T-bill issuance rises

Gordon Johnson, CEO / analyst at GLJ Research, points to historical trends and correlations as signaling an increased risk for bitcoin in the near term.

According to Johnson, a chart featuring Wrightson ICAP's estimate for net Treasury bill issuance suggests that bitcoin could reach a low around $70 by the end of October.

Johnson recently noted that the August PPI headline rose 0.4% month over month, with a year-over-year figure of 5.5% following a July base revision in recent commentary. He also pointed to Tesla raising its borrowing limit to $30 billion as cash flow turned negative and capital expenditure guidance exceeded $25 billion in another report. These observations reflect his ongoing focus on major market and company developments.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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