TLDR
- Bitcoin price is consolidating at $118,825, slightly below its all-time high of $123,000.
- Analysts expect a significant price surge to $150,000 if the GENIUS Act is passed today.
- Crypto Rover predicts Bitcoin will benefit from the passing of the GENIUS Act, similar to past political events.
- Bitcoin has broken multiple resistance levels and remains above key moving averages, signaling bullish trends.
- BlackRock forecasts Bitcoin could reach $700,000 while Ark Invest predicts long-term growth to $2.4 million.
The Bitcoin price remained steady on July 16, as traders monitored potential movement linked to the GENIUS Act. BTC traded around $118,825, slightly below its all-time high of $123,000. Analysts expect significant price action if the House votes in favor of the GENIUS Act, which could set the stage for further bullish momentum.
As the crypto market braces for any developments surrounding the GENIUS Act, Bitcoin price predictions have become more optimistic. A key analyst, Crypto Rover, suggests that Bitcoin could surge to over $150,000 if the bill passes. His prediction follows historical patterns, where major legislative events have sparked substantial price increases, including during Donald Trump’s election and the passing of the Big Beautiful Bill.
Bitcoin Price Bullish Outlook, Analyst Predicts $150k Post-Vote
Crypto Rover’s analysis suggests that the passing of the GENIUS Act could trigger a new bull run for Bitcoin. The bill’s potential to regulate stablecoins could create a favorable environment for Bitcoin and other cryptocurrencies. Rover, along with other analysts, sees the GENIUS Act as a critical driver for the market’s next growth phase.
New votes on the GENIUS Act and the Market Structure Bill are expected soon.
This could send Bitcoin much higher! pic.twitter.com/waVFpkKk98
— Crypto Rover (@rovercrc) July 16, 2025
In the past, major political events have had a direct impact on Bitcoin’s price. When Trump was elected and when certain bills passed, Bitcoin saw significant surges in value. These instances have led experts to believe that the GENIUS Act will similarly ignite a rally, potentially propelling Bitcoin past its current high.
The price target for Bitcoin, if the GENIUS Act is passed, may reach as high as $150,000. This is based on technical analysis, which points to the recent bullish flag pattern and support from key moving averages. Bitcoin price has already broken several resistance levels, and if the legislation passes, analysts expect this momentum to continue.
Bitcoin Price May Retest $110k Before Surge
In addition to the immediate predictions surrounding the GENIUS Act, long-term Bitcoin price forecasts remain bullish. BlackRock has set its sights on Bitcoin surpassing $700,000 over time, while Ark Invest expects the coin to reach up to $2.4 million. These long-term forecasts demonstrate growing confidence in Bitcoin’s future, even beyond the current political developments.
Bitcoin’s technical chart also shows strong bullish signals. It remains above critical resistance levels, including the $110,000 mark, which many see as crucial. Additionally, the coin continues to stay well above its 50-day and 100-day moving averages, indicating continued support for upward momentum.
While Bitcoin’s price could hit $150,000 in the short term, analysts expect potential pullbacks as investors take profits. This could lead to a retest of lower levels, such as $110,000, before the uptrend resumes.
