Bitcoin Bull Run Is Just Getting Started - Market Prediction Report.
2021-03-27 | Big Bob
The price of the leading cryptocurrency Bitcoin [
BTC] seems
to have stalled below $60k after attaining new all-time highs earlier in March. PlanB, a cryptocurrency analyst active on Twitter, thinks Bitcoin [BTC]
might have
tons of room to Gallup however.
“IMO we are only ~4 months into the
market and nowhere near
the top of it,” PlanB
tweeted on Friday. “Bitcoin
is simply getting started,” he added, showing Bitcoin’s present path on
one among 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 offer over time.
YouTuber and derivatives trader Tone Vays also carries a bull run macro view, although he thinks a dip lower for Bitcoin
isn't out of the question.
“Bitcoin is consolidating but I remain bullish within this market,” Vays explained. “While
it's still possible for bitcoin
to form a lower low for the month
within the $48k range,
I think we'll go up to above $70k before June,” he added.
After trading past $61,000 this month, Bitcoin retraced down near $50k. For
the foremost part, the drop occurred over roughly
fortnight, with some relief bounces mixed in,
instead of during a straight, single-day $10k shot downward.
In line with TradingView data, BTC holds a price of $54,550 USD at the time of reporting, looking back on
each day of overall upward price action.
Additionally, other cryptocurrency assets
still make headlines
within the price category
also.
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