Bitcoin, which fell from $ 69,000 to $ 42,000 in a month, continues its horizontal movements in the range of $ 46-47,000.
While many altcoins, who are far from their peak, are waiting for the indecision in Bitcoin to end and the direction to be clear, hopeful shares about Bitcoin have come from popular analysts.
Plan B, the inventor of the Bitcoin stock flow (S2F) model, which received the appreciation of investors with its many accurate predictions throughout the year, shared a chart showing that Bitcoin is at the bottom according to the S2F model in its latest post.
“I Love Being in the Lower Bands”
The analyst also used the following statements: “Bitcoin needs a small miracle to hit $100,000 by Christmas.
If that doesn’t happen, would I give up on S2F? No. I always like being in the lower bands. I published this model in March 2019 when Bitcoin was below $4000.”
We are at the Bear/Bull Separation
While PlanB awaits the surprise that will take Bitcoin to $100,000, another veteran analyst, Philip Swift, shared his expectations for Bitcoin.
Swift, the inventor of the Pi Cycle Top indicator, which has been successful in finding the peaks, stated that the 1-year price average of Bitcoin is an important bull market / bear market level, and said that the price is now in this region.
Swift added that he believes the bulls will step in at these levels and continue the rally.
Stating that the number of Bitcoins on the exchanges continues to decrease, the analyst added that long-term Bitcoin holders still do not show a serious movement.
Saying that these data strengthen the expectation of rise, the analyst also shared glassnode data.
*Not Investment Advice.