AWASIOR
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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.
![8Mxt4IhUCRdJ1dIVmXoUbDL9V7CxHygjeO3TTClqucgyKa9C6DPYCy1_fj8XoZ_CX89ivAgA7w5MniHH2kKfZOoEBaY=s0-d-e1-ft](/proxy.php?image=https%3A%2F%2Fci5.googleusercontent.com%2Fproxy%2F8Mxt4IhUCRdJ1dIVmXoUbDL9V7CxHygjeO3TTClqucgyKa9C6DPYCy1_fj8XoZ_CX89ivAgA7w5MniHH2kKfZOoEBaY%3Ds0-d-e1-ft%23https%3A%2F%2Fsirv.freebitco.in%2F1617866348_qaCWh6iq.png&hash=ea0608cc70e11cdc7f6b1c50389f2622)
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.