PlanB Predicts Bitcoin Upswing Based on Multiple Indicators

IconCryptoNewsTerminal Staff22 Jul, 2024

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PlanB Predicts Bitcoin Upswing Based on Multiple Indicators

PlanB Signals Bullish Outlook for Bitcoin Renowned analyst PlanB, creator of the "Stock-to-Flow (S2F)" model for Bitcoin price prediction, has expressed optimism for the cryptocurrency's future. According to PlanB, several indicators suggest that Bitcoin is poised for an upswing: Bullish Market: The Bitcoin market is showing signs of a bullish trend. Halving Aftermath: Three months have passed since the most recent Bitcoin halving, historically a bullish event. Strong RSI: The Relative Strength Index (RSI) is at 67, indicating potential for further growth. Rising Realized Price: The realized price of Bitcoin, which represents the average price at which coins have been purchased, has been increasing. * Profitable Holders: Over 90% of Bitcoin holders are currently in profit, indicating increased confidence in the asset. Based on these indicators, PlanB believes that Bitcoin is well-positioned to appreciate. However, he cautions that short-term volatility is still possible.

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