bitcoinbecame the shining star of investors and headlines after its last rally. Some of the popular crypto analysts have confirmed that the cryptocurrency has entered a bull market.
1.87 million followers on Twitter Plan Bin the posts that attract attention to share their views found. According to the analyst, the Bitcoin Relative Strength Index (RSI) has surpassed 50, which confirms the bull market. The RSI is a leading indicator that measures the strength of a trend in terms of changes in closing prices.
#Bitcoin RSI > 50 .. bull market confirmed🚀 pic.twitter.com/3L1y5PBsoQ
— PlanB (@100trillionUSD) March 19, 2023
NEWS CONTINUES BELOW
Plan B predicted a Bitcoin bull market in January when he said that the relative strength index had bottomed out and reversed to the upside. He also made a prediction that the BTC price would register more than $32,000 in the half of next year and more than $100,000 in 2025.
CryptoQuant CEO Joo Ki-young also tweeted that Bitcoin entered a bull market in January, saying that it entered the beginning of a bull market.
#Bitcoin entered into the bull phase. https://t.co/2VjgghXIB2 pic.twitter.com/8FmHyVILZH
— Ki Young Ju (@ki_young_ju) March 20, 2023
According to data from CryptoQuant, BTC has reached the logarithmic 100 MA, which has seen a price increase of at least 50% since 2019, even if it does not close above it.
Koinfinans.com As we reported, the MVRV indicator also shows that the price is in an upward wave of 1.35 percent according to the historical response of BTC to the indicator, which has happened many times and has always shown an upward movement of at least 50%.
Given such technical details, many investors are optimistic about the future of Bitcoin. The time until the Fed report is expected to be in the bullish direction, and if the report comes in as +25 points, we are likely to see three bullish months for BTC.
Recent confirmation of BTC bull market, cryptocurrency Good news for investors who follow the unit closely. While it’s important to remember that cryptocurrency prices can be volatile and unpredictable, the views of these well-known analysts are likely to inspire confidence among investors.
You can follow the current price action here.