An analyst who is widely respected says Bitcoin (BTC), may experience a rapid rise in price over the next few weeks.
In a recent video, the host at InvestAnswers told his 565,000 YouTube followers that Bitcoin bull market may not be over yet and BTC could soon reach $160,000.
Analyst uses global M2 money flow – a measure of the money moving throughout the financial systems – to predict potential Bitcoin price targets.
The yellow line represents the M2 global money supply. The Bitcoin price follows it nearly picture-perfect. What is the highest it will go? Estimates are $120,000 or even $160,000. Let’s see. Good things will come. It may be necessary to wait until June or July .”
The buying patterns of different Bitcoin holders indicate, he says, that some are more aggressive in accumulating this digital flagship than others.
It’s accumulating. The accumulation is spreading upwards as well.
Since quite some time, the whales [those who have] more than 10,000 Bitcoin, are at their peak accumulation, which is around 0.95.
About 0.9 percent is the difference between those who hold 1,000-10,000 Bitcoins and those holding 100-1,001 Bitcoins. The stacks keep growing.
I spoke a great deal about the 100-1,000 cohort. It is important to keep an eye on them. Now they are the big money makers. The group holds more Bitcoins than any other.
The 10 to 100 Bitcoin owners who have shifted their focus towards 0.6. The stacking is beginning. There are still people who have less than 10 Bitcoins. The small players sell .”
Lastly, he claims that his Top and Bottom Indicator, which uses multiple metrics to try and predict the market peaks and lows, suggests Bitcoin could be heading higher.
The Top and Bottom Indicator is the next thing to discuss. It tells us if Bitcoin is overheating or not.
The road is still yellow. Still yellow. After this phase of yellow, we need to go orange, then dark yellow and finally red.
This is where we are, everyone. The bull run has not ended. This is the situation, everyone, and this bull-run is still not over .”
Bitcoin has a value of $97,044 as at the time this article was written, which is flat for the day.
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The post InvestAnswers: Bitcoin Bull Run is Not Over, Reveals BTC Targets for the Coming Weeks – ‘Good things are Ahead’ may change as new information becomes available.
