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Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-analyst-predicts-significant-bitcoin-price-movement/" data-wpel-link="internal">Market Analyst Predicts Significant Bitcoin Price Movement</a><br></p>
<p style="text-align: justify">On Monday, the price of <strong>BTC</strong> rose to $70,000 and then fell below $66,000. This significant price fluctuation brought uncertainties and concerns, as a famous market analyst highlighted a potential major price movement in BTC, sharing his analysis with charts.</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2> 
<p style="text-align: justify">Renowned market analyst PlanB indicated that significant price movement could occur in <strong><a href="https://en.coin-turk.com/bitcoin-ordinals-witnesses-exponential-activity-boost-following-brc-69-standard-introduction/" data-wpel-link="internal">Bitcoin</a></strong> (BTC) by the end of this year, based on various indicators. PlanB mentioned in his post on X that he is monitoring Bitcoin’s miner revenue metric.</p> 
<p style="text-align: justify">The chart shared by the analyst historically shows that Bitcoin experiences parabolic rises shortly after miner revenues hit bottom following halving periods, marked by dark red dots.</p> 
<p style="text-align: justify">Considering the correlation between price and miner revenue, PlanB predicted that Bitcoin could double in value between now and the end of December.</p> 
<blockquote> 
 <p>Miner revenue hit bottom after the April 2024 halving. I expect Bitcoin’s price to double within 3-5 months.</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-375441" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-1-planb-coin-turk-com.png" alt="" width="609" height="324"></p> 
<h2 style="text-align: justify" id="the-role-of-the-us-in-bitcoin">The Role of the US in Bitcoin</h2> 
<p style="text-align: justify">Last week, Senator <strong>Cynthia Lummis</strong> drew attention at the Bitcoin 2024 Conference by announcing that she would propose a bill to create BTC reserves to secure the value of the US dollar amidst a historic national debt level.</p> 
<p style="text-align: justify">Meanwhile, former US President and presidential candidate <strong>Donald Trump</strong> stated that if elected, he would stop the sale of the US’s seized Bitcoin holdings on the open market and instead strategically hold the asset as an <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a>, hinting at potential purchases.</p> 
<p style="text-align: justify">Following these <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">announcements</a>, PlanB stated that Bitcoin has reached the “nation-state adoption” phase. PlanB then shared a chart using the stock-to-flow (S2F) model, originally created for commodities, to measure the scarcity of an asset, adapted for Bitcoin.</p> 
<blockquote> 
 <p>Stage 5: nation-state adoption… are you ready?</p> 
</blockquote> 
<h2 style="text-align: justify" id="img-loading-lazy-loading-lazy-decoding-async-class-aligncenter-size-full-wp-image-375440-src-https-coin-turk-com-wp-content-uploads-2024-07-btc-2-blanb-coin-turk-com-png-alt-width-612-height-344"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-375440" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-2-blanb-coin-turk-com.png" alt="" width="612" height="344"></h2> 
<p style="text-align: justify">Meanwhile, the BTC price fell below $66,000 once again and, as of the time of writing, is trading around $65,700, representing a drop of over 2%.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/market-analyst-predicts-significant-bitcoin-price-movement/" data-wpel-link="internal">Market Analyst Predicts Significant Bitcoin Price Movement</a></h5>
<p>The post <a href="https://en.coin-turk.com/market-analyst-predicts-significant-bitcoin-price-movement/" data-wpel-link="internal">Market Analyst Predicts Significant Bitcoin Price Movement</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Market Analyst Predicts Significant Bitcoin Price Movement

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