Bitcoin Hopes Rest on CLARITY Act Passage Amid Seven Roadblocks

The passage of the CLARITY Act could push Bitcoin to $200,000, according to some analysts. However, this outcome is far from certain, as seven roadblocks remain before the bill reaches a Senate vote.

The research desk at FM Intelligence sees Bitcoin between $135,000 and $200,000 over the next year, but gives this scenario only one-in-four odds, contingent on the bill being signed before the November midterms. The main case presented by FM Intelligence is far lower, with a price range of $95,000 to $130,000.

Bitcoin currently trades at around $64,671, up 0.48% in a day, and has a market value of $1.29 trillion. To reach the predicted $200,000 price, the Bitcoin market would need to roughly triple.