Av ZyCrypto - 2 år sedan - Lästid: 2 minuter
Varför Bitcoin Is Nowhere Near The Top This Cycle, But Still Likely To Roar Past $200,000
Om du trodde bitcoin’s parabolic rally was over, think again. A price indicator developed by one of the industry’s best-known analysts is betting on the world’s largest cryptocurrency to more than triple in value during this cycle.
Bitcoin Could Soon Clinch $200K
Bitcoin has had a blockbuster year so far, with the pioneer crypto breaking multiple record levels and flirta med $69,000 XNUMX tröskeln förra veckan eftersom det gynnas av många medvindar. Ändå förväntar sig analytiker att kryptovalutan kommer att stiga ännu högre inom en snar framtid.
Bitcoin could skyrocket to as high as $200,000 in the current bull market based on the Top Price Model indicator. This indicator was created by on-chain strategist-cum-crypto investor Willy Woo and is used to identify cycle tops in the market.
On-chain analytics provider Glassnode pointed out that the Bitcoin Top Cap is calculated by multiplying the Average Cap by a factor of 35. The Average Cap is derived from the total daily market capitalization, divided by the number of days that the market lives.
Top Cap estimates bitcoin at an eye-watering valuation of $4 trillion while the Top Price stands at roughly $214,000. If this analysis holds true, then we’re still in the early innings of the crypto bull market.
Woos Top Price Model-indikator är långt ifrån den enda indikatorn som förutsäger ett lopp mot nya rekordnivåer. Skaparen av Stock-to-Flow-modellen PlanB foresees bitcoin at $98K by the end of this month och $135K i december. Noterbart är att modellens iteration, Stock-to-Flow Cross Asset (S2FX), kräver ett genomsnittligt pris på $288,000 XNUMX denna cykel.
En annan kryptoanalytiker, TechDev, tidigare beskrivet en cykeltopp på mellan $200,000 300,000 och $XNUMX XNUMX som "nästan för programmerad."
Ursprunglig källa: Zycrypto