Bitcoin Bull Market Did Not Hit The Top Yet

It’s been revealed that the analyst who applied stock-to-flow model to Bitcoin said that the king coin’s bull market is just getting started. This is reportedly happening despite the recent struggle to remain above $60k.

In a new tweet, Plan B said that he believes BTC’s current boom cycle is far from over now.

“In my opinion, we are only about 4 months into the bull market and nowhere near the end of it. Bitcoin is just getting started,” he said.

It’s been revealed that the quantitative analyst looked at Bitcoin’s historical performance in terms of momentum to support his argument.

PlanB said that BTC’s relative strength index (RSI), which measures the pace of price movements for a given asset, has not yet reached its peak.

“Bitcoin monthly RSI is not even 95. In 2011, 2013 and 2017 bull markets we had at least 3 months above 95. Still early.”

He said that BTC is still facing some hardships these days.

Someone else said:

Check out the complete thread on Twitter in order to learn more details.

In other news, Gemini’s Tyler Winklevoss shared a tweet saying that the US government will not be banning Bitcoin.

Stay tuned for more news.

Previous Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
>