Bitcoin price attempts to maintain 7.5% gains as analysis predicts $74K target

Bitcoin approached the $66,000 mark on May 16 following positive macro data from the United States that sparked a surge in risk assets. The price jump yielded mixed reactions, with some market observers expressing suspicion about the sustainability of Bitcoin’s move. However, veteran trader Peter Brandt maintained an optimistic position, predicting that Bitcoin would continue to climb in the long term. Meanwhile, Michaël van de Poppe, founder and CEO of trading firm MNTrading, anticipated a calm upwards period for Bitcoin, with the possibility of altcoins outperforming. Trading firm QCP Capital also entertained the idea of Bitcoin reaching new all-time highs, citing factors such as increasing adoption, decreasing inflation, and upcoming US elections. It’s important to note that this article does not provide investment advice, and readers should conduct their own research before making any decisions.