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. This, coupled with the entry of major investors into the bull market and the explosive growth of the artificial intelligence industry, signals an unprecedented boom in the virtual asset market in the second half of the year.

Crypto analyst Lark Davis, in a video uploaded to his YouTube channel on May 8 (local time), analyzed that Bitcoin has reached a critical technical inflection point despite seasonal factors in May. Davis predicted that while Bitcoin is facing resistance at the 200-day exponential moving average, an upward trend would 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 his Bitcoin 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 expressed optimism, citing all-time highs in the stock market, Paul Tudor Jones predicted that the AI bull market is still in its early stages and will continue 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 positive 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.

On a per-asset basis, Solana (SOL) has broken out of a large triangular pattern and is looking for further upside after retesting around $86.5, while Ethereum (ETH) is struggling, blocked by the $2,400 resistance level. Mining company Marathon Digital has transitioned beyond simple mining to become a 1-gigawatt AI data center infrastructure company, embarking on an industrial restructuring. Google is also focusing on expanding its AI ecosystem by securing 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 comprehensive portfolio strategies that sovereign investors should have. 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 market is currently entering an overheated phase, with the NASDAQ reaching all-time highs, but buying pressure from major investors and improvements in technical indicators raise 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 any investment losses based on it. The content should be interpreted for informational purposes only.*