HomeBitcoinStock-to-flow creator doesn't think Bitcoin's bull market is done

Stock-to-flow creator doesn’t think Bitcoin’s bull market is done

-

[ad_1]

Bitcoin’s price seems to have stalled below $60,000 after attaining new all-time highs earlier in March. PlanB, a crypto analyst active on Twitter, thinks Bitcoin (BTC) may still have a lot of room to gallup however. 

“IMO we are only ~4 months into the bull market and nowhere near the end of it,” PlanB tweeted on Friday. “Bitcoin is just getting started,” he added, showing Bitcoin’s current path on one of his Stock-to-Flow charts. Multiple Stock-to-Flow models exist for Bitcoin which show Bitcoin’s price path in line with its halving events and supply over time.

YouTuber and derivatives trader Tone Vays also carries a bullish macro view, although he thinks a dip lower for Bitcoin is not out of the question.

“Bitcoin is consolidating but I remain bullish in this market,” Vays told Cointelegraph. “While it is still possible for bitcoin to make a lower low for the month in the $48k range, I believe we will go up to above $70k before June,” he added.

After trading past $61,000 this month, Bitcoin retraced down near $50,000. For the most part, the drop occurred over roughly two weeks, with some relief bounces mixed in, rather than in a straight, single-day $10,000 shot downward. Based on TradingView data, BTC holds a price of $54,550 at time of publication, looking back on a day of overall upward price action.

Meanwhile, other crypto assets continue to make headlines in the price category as well.

[ad_2]

Source link

LATEST POSTS

Cardano faces $1.60 resistance after ADA price hits 2-month highs

Cardano's ADA token came close to its highest in two months on Aug. 10 as daily gains neared 6%.Data from Cointelegraph Markets Pro and...

Teller Finance deploys mainnet on Polygon, migrates 2,200 NFTs

Teller Finance, a non-collateral lending protocol for the DeFi market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest...
[td_block_social_counter style="style8 td-social-boxed td-social-font-icons" facebook="tagdiv" twitter="tagdivofficial" youtube="tagdiv" custom_title="Follow us" block_template_id="td_block_template_11" border_color="#fbb03b" f_header_font_size="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTgifQ==" f_header_font_weight="600" f_header_font_family="702" f_header_font_transform="uppercase" tdc_css="eyJwb3J0cmFpdCI6eyJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsInBob25lIjp7Im1hcmdpbi1ib3R0b20iOiI0MCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3NjcsImFsbCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn19"]

Most Popular

spot_img