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The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has been long on bitcoin for a while now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week the strategist’s analysis notes that bitcoin prices will likely revert toward the $60K handle in contrast to the $20K support range. … Read more
The analytics provider Ecoinometrics has published a tweetstorm that shows the current downward spiral from bitcoin’s all-time high is one of “the longest drawdowns bitcoin has had to deal with during a post-halving bull market.” Furthermore, the same day, analyst and economist, Julio Moreno, highlighted in a recent blog post that “in bitcoin, volatility is … Read more
The popular Twitter account and creator of the bitcoin stock-to-flow (S2F) price model explained that “$288K [is] still in play.” Meanwhile, data from the exchange Deribit shows there’s over 425 bitcoin call options with a strike price of $200K set for December 31, 2021. Plan B Says: ‘$288K Still in Play’ On June 12, 2021, … Read more
The creator of the popular bitcoin price model called stock-to-flow (S2F or S2FX) has added a new dot to his notorious chart. Plan B said on Tuesday that “we knew bitcoin would not go up in a straight line” and added that the market action is “starting to look like 2013.” S2FX ‘Intact’ Says Plan … Read more
After bitcoin prices dipped to a low of $30,066 per unit last week, lots of people have been focused on the panic sellers. Meanwhile, when bitcoin prices plunged, the number of bitcoin addresses in accumulation tapped an all-time high at 545,115 addresses. Number of Bitcoin Accumulation Addresses Hit New Highs Bitcoin (BTC) prices slid from … Read more
Despite Glassnode charts showing Bitcoiners are filling their bags, exchanges are seeing record inflows as investors trade their BTC for ETH. Go to Source Powered by WPeMatico
The leading cryptocurrency bitcoin has dropped 20% in value after Tesla announced on May 12, the electric car firm would not be accepting bitcoin for purchases. Two days later, the creator of the notorious stock-to-flow cross-asset (S2FX) price model, Plan B, shared his model and said the S2FX was still “intact.” Plan B still shows … Read more
Bitcoin’s last six monthly candles have closed green, tying its previous record streak for bullish monthly candles. Go to Source Powered by WPeMatico
Crypto analytics firm Glassnode has spotted several indicators suggesting Bitcoin’s bulls could be slowing down. Go to Source Powered by WPeMatico
A number of Wall Street veterans like Bear Traps Report author, Larry McDonald, think that markets might see some “disastrous and unimaginable” impacts in the near future. Another seasoned analyst, Larry Williams, believes the S&P 500 will shudder after July 28. Despite the pending doom edging toward traditional stock and equities markets, bullish crypto researchers … Read more
