Bitcoin is Bracing itself to Make a Jump to the Moon
Bitcoin is currently the center of attention and speculation in equal parts. After hitting an ATH in April of $64,500, the leading digital asset has consistently been low. A big chunk of the price appreciation has been taken out of the Bitcoin market since then. However, there had been predictions in favor of a $40K appreciation rather than a $20K depreciation from many analysts.
As the Bitcoin price mark has recovered, for the time being, many analysts are speculating that it would jump-start a second rally like 2013. On the other hand, the stability and perseverance of the current price mark are also a cause of concern among investors. Many analysts claim that the initial FUD has been cleansed out of the crypto. At the same time, some believe that the current bull run has run out of gas.
Stock to Flow Analytics Claim that Bitcoin could reach a 200K Mark in 2022
Plan B is a dedicated crypto analytics service. It has also been featured in Forbes. The pseudonymous account is responsible for creating the Stock to Flow index for Bitcoin price movement. Stock to Flow measures the amount of supply sent into the market in a year in comparison to the total available stock of a traded commodity in question. Plan B has been using this index to predict the price action for beacon coins accurately in the past.
As per a new post shared by Plan B, it has been predicted that Bitcoin is likely to reach a price mark of $50K by 2022. The analytics service went on to claim that Bitcoin could achieve the $100,000 price mark by the end of the year. Both S2F and on-chain data analytics reciprocate the same results. This data can be retraced on the 2013 price movement graph for the flagship cryptocurrency.
Some Crypto Analysts are Bracing for a Bitcoin Bear Market Run in the Upcoming Weeks
The recent price fluctuations from the Bitcoin price marker have been viewed as a dramatic transition. The traders who have over a decade worth of experience in stock markets want to be in control of the narrative. Meanwhile, the volatility from Bitcoin seems to exceed all expectations and the analytical spectrum.
Therefore, some like Rekt Capital are of the opinion that the Bitcoin market would follow the pattern of the Death Cross index. It is an index that shows 50 days lowering moving average in comparison to the 200 days moving average. If this prediction comes to pass, Bitcoin would be going into a crash and a bear market leap that occurred during 2018.