The crypto market has shown a lot of volatility lately, but this did not stop investors from being interested in entering the crypto space.
Also, there have been a lot of positive forecasts that have been made regarding the prices of digital assets.
The optimistic predictions on crypto continue and this time Bitcoin is in the spotlight.
Bitcoin will reportedly hit a new all-time high before the next halving
The Daily Hodl just reported that a popular technical and fundamental crypto analyst on TradingView said that he believes that Bitcoin will hit a new all-time high before the next halving hits us in May next year.
The analyst who is known in the industry as FilbFilb, cited Bitcoin’s stock-to-flow ratio as a key indicator for mapping out BTC’s future regarding price.
“Assuming that there is no systemic shock either via heavy regulatory enforcement or a global recession, I am of the view that we will see a continuation of what has been observed to date; Bitcoin will move through its next cycle at an increased pace to what we have seen previously,” he said.
BTC to hit around $100k in 2020
He continued and explained that “I am expecting Bitcoin to break all-time highs for the first time in advance of the Halving. The Stock to flow model which I discussed last week, which I have illustrated on the chart and I recommend that you review (see @100trillionUSD on twitter) implies that Bitcoin will be worth around $100k from May 2020.”
Stock to flow and #bitcoin price are cointegrated
Cointegration is completely different from correlation
Great video explaining cointegration & correlation:https://t.co/GSvyyUD71Q pic.twitter.com/tRcfetiwA9
— PlanB (@100trillionUSD) September 8, 2019
As a conclusion, he said that it had been the best valuation model for Bitcoin so far.
In other news, experts have been analyzing whether Bitcoin will be able to remain above the psychological level of $10k.
Before BTC was able to surpass this level, crypto analysts were saying that when the crypto can achieve this, the result would be increased FOMO.
