Bitcoin, "escape in May?"...John Bollinger and Saylor claim "surge in the second half"

▲ Bitcoin (BTC)

Bitcoin (BTC) is attempting to break through the strong resistance level of $83,000. The entry of major investors into the bull market, coupled with the explosive growth of the artificial intelligence industry, is signaling an unprecedented boom in the virtual asset market in the second half of the year.

Cryptocurrency analyst Lark Davis, in a video uploaded to his YouTube channel on May 8 (local time), analyzed that despite seasonal factors in May, Bitcoin has reached a critical technical inflection point. Davis predicted that although Bitcoin is facing resistance at the 200-day exponential moving average, an upward trend will be confirmed if it breaks through the $83,000 to $84,000 range on a closing basis. He particularly emphasized that John Bollinger, the creator of Bollinger Bands, recently established a long position following a positive shift in Bitcoin's trend model.

Trends in traditional finance and the tech stock market also support the bullish scenario for the virtual asset market. Michael Saylor, Chairman of Strategy, announced that he is in the process of an engineering design to accumulate 5% to 7.5% of the total supply to push Bitcoin's price to $1 million to $10 million per coin. While former U.S. President Donald Trump is expressing optimism, citing record highs in the stock market, Paul Tudor Jones predicted that the AI bull market is still in its early stages and will last for another one to two years. Trump highlighted the market boom based on employment figures and rising asset values.

However, escalating tensions in the Strait of Hormuz and oil price volatility remain potential market risks. Recently, oil prices fluctuated after five oil tankers caught fire in the strait and Iran rejected U.S. proposals, intensifying control. However, Davis pointed out that in the long term, oil prices are likely to fall to the $50 to $70 per barrel range, which would be good news for the virtual asset market. Similar to Bitcoin's surge during the Silicon Valley Bank crisis, virtual assets are solidifying their position as a real store of value amidst geopolitical crises.

Among individual assets, Solana (SOL) has broken out of a large triangular pattern and is aiming for further gains after retesting the $86.5 level, while Ethereum (ETH) is struggling, blocked by the $2,400 resistance. Mining company Marathon Digital is transforming beyond simple mining into a 1-gigawatt artificial intelligence data center infrastructure company, embarking on an industrial restructuring. Google is also focusing on expanding its AI ecosystem by acquiring real-world data in the healthcare sector through the launch of Fitbit Air.

Davis plans to change his channel name to "The Lark Davis Show" and delve deeply into overall portfolio strategies that a sovereign investor should possess. His ambition is to convey the essence of wealth to investors through a comprehensive investment strategy encompassing not only virtual assets but also health, longevity, stocks, and precious metals. The current market is entering an overheated phase, with NASDAQ setting new all-time highs, but buying pressure from major investors and improvements in technical indicators are raising expectations for a bull run in the second half of the year.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*