2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitcoin-july-outlook-planb-finds-no-abnormalities-90-holders-in-profit/">Bitcoin July Outlook: PlanB Finds No Abnormalities; 90% Holders In Profit</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>PlanB, the creator of the widely used Stock-2-Flow (S2F) model has determined the market outlook for July, based on seven important charts. It is worth mentioning that PlanB is the same person who predicted Bitcoin might hit $100,000 this year.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-first-chart-the-stock-to-flow-model-nbsp"><strong>First chart: The Stock-to-Flow Model</strong>&nbsp;</h2> 
<p><a href="https://www.youtube.com/watch?v=WeU2OQICGbs" target="_blank" rel="noreferrer noopener nofollow">PlanB said</a> that Bitcoin closed June slightly above $62,000. The market has been in a boring trading range between $60,000 and $70,000 for a couple of months now. Until we find direction, it will likely stay there. Historically, after halving, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin’s price</a> lags the model’s value and starts moving only a few months later. It typically takes 12 to 18 months for the price to reach the stock-to-flow model predictions.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-next-chart-the-red-market-indicator-nbsp"><strong>Next chart: The Red Market Indicator</strong>&nbsp;</h3> 
<p>PlanB asserted that we are still in a bull market. Although it might not feel that way, the numbers don’t lie. These are on-chain numbers, showing no abnormalities. I would be worried if we saw yellow or green (which is impossible now), but we don’t have that; it’s red, indicating a bull market. This gives me some comfort.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> RSI 65, 2nd red dot higher than 2016 and 2020<br>My RSI analysis: <a href="https://t.co/61D8cLyl64">https://t.co/61D8cLyl64</a> <a href="https://t.co/ZBNyd0Tvlg">pic.twitter.com/ZBNyd0Tvlg</a></p>— PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1808455154263347333?ref_src=twsrc%5Etfw">July 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<h2 class="wp-block-heading" id="h-bitcoin-realized-price-nbsp"><strong>Bitcoin Realized Price</strong>&nbsp;</h2> 
<p>At the end of June, the realized price was $31,000. The two-year realized price is $48,000, and the five-month realized price is currently $65,000. Bitcoin is slightly below the five-month realized price, which has historically served as a support line in bull markets. He expects Bitcoin to bounce from this five-month realized price.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-moving-average-200-chart-nbsp"><strong>Moving Average 200 Chart</strong>&nbsp;</h3> 
<p>The 200-week moving average, which represents the average Bitcoin price over the last four years, is around $37,000 and steadily rising. This moving average has never gone down, only gradually rising, indicating nothing abnormal.</p> 
<h3 class="wp-block-heading" id="h-bitcoin-in-profit-nbsp"><strong>Bitcoin in Profit</strong>&nbsp;</h3> 
<p>Currently, 90% of holders are in profit, similar to the start of the 2013 bull market, which also saw a lot of yellow, orange, and red indicators. The market is clearly searching for direction, and we need to remain patient until it finds it.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/why-did-bitcoin-btc-price-drop-below-60k/" target="_blank" rel="noreferrer noopener">Why Did Bitcoin (BTC) Price Drop Below $60k?</a></p>

Bitcoin July Outlook: PlanB Finds No Abnormalities; 90% Holders In Profit

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