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Research Analysts: Bitcoin Movements Looking “Bullish”

According to market research analysts, Bitcoin price is poised to rally.

PlanB, one of cryptocurrency’s famed anonymous analysts believes that it’s now time for Bitcoin price to start heading upwards. Using a chart mapping historic data alongside his own Stock-to-Flow (S2F) model, the analyst pointed out that Bitcoin is poised for a rally:

Bitcoin Price Prediction Model: S2F Version 1 Update

PlanB’s model to analyse the historic and current data of Bitcoin’s movement differs from the updated Stock-to-Flow Cross-Asset (S2FX) model, which includes the analyses of macro factors. The updated model also considers the “phases” in Bitcoin’s shift to become a well-established alternate asset. Considering the trend after the previous Bitcoin halving in 2020, it appears the price of Bitcoin is set to go in the same way.

This predicted trend has been echoed by cryptocurrency analyst Michael Van de Poppe, who compares the Bitcoin bull run 18 months after the Bitcoin halving in 2016:

Funds from where: How Bitcoin might surge

PlanB suggested that the funds needed to skyrocket Bitcoin price will come from other assets and investors looking to hedge against the decreasing dollar values. Quoting a blog, he said:

“silver, gold, countries with negative interest rates, countries with predatory governments, billionaires and millionaires hedging against quantitative easing (QE), and institutional investors.”
The concept of looking to Bitcoin as a safe haven against the US dollar and other national currencies is not a new one. A common theme in the market is the inverse correlation between the dollar and other assets such as Bitcoin and gold. If investors look to pull their funds from dollar investment, it is very plausible that they will look to Bitcoin as an alternative option.

Posted: Sep 15, 2020 Author: Becky Categories: Bitcoin News