BTC On Course to Hit $100,000, Key Indicators Optimistic


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BTC | BITCOIN $47951.78 +2.50%


BTC hit a bit of a lull last week, dropping down to the low-$46,000s before recovering strongly to trade in the familiar $48,500 - $49,500 range. However, according to PlanB's stock-to-flow model, Bitcoin is well on course to reach the $100,000 mark by the end of the year.

The stock-to-flow model received some criticism during Bitcoin's extended slump from May to July. However, Bitcoin's 35-day bull run since then has validated the model further.

PlanB's price prediction for August close seems to be on track. If the price follows this trend, $135,000 could be a reality come December. Furthermore, some key indicators are skewing bullish as well.

The futures "basis" for the month of August showed a remarkable improvement, rising from a 4% annualized premium on 19th August to 9% on 27th August. The "basis" is the price gap between the futures market and spot market. This rise displays growing positive sentiment.

Another key indicator is the top traders' long-to-short ratio at top exchanges. This indicator also showed a sizeable rise in the last week, indicating bullishness.

there is something wrong??

Absolutely yes, because else it feels those are your research and predictions and that is not the case. Isn't even the news articles, magazines other blogs you read have the source mentioned if they are picked from somewhere as those are not the original article.