Renowned economist Henrik Zeberg predicts that Bitcoin (BTC) could reach a staggering price of $111,000, thanks to the convergence of a technical indicator and a bullish market structure. Zeberg shares his insights in a video update on Trade Gate Hub, suggesting that the leading cryptocurrency could experience a “melt up” and hit six figures by August. He points out that historically, Bitcoin enters a parabolic phase once its monthly relative strength index (RSI) surpasses 70. Zeberg believes that Bitcoin’s current RSI of 71 could pave the way for a price tag exceeding $200,000, although his target is set at $110,000 to $115,000. At the time of writing, Bitcoin is trading at $66,115. It is important for investors to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets.