Bitcoin Price Could Break $20,000 as Crypto Winter Ends
Bitcoin price could be poised for a bullish bounce as the end of the crypto winter approaches , says On-chain data analyst and Glassnode translator Prof. Chaine.
Right now the crypto winter is coming to an end for the 4th. time in 13 years, according to the on-chain model shown by Prof. Chaine.
“The principle of this model is to look at the acquisition dynamics of distributed and accumulated coins during bear markets via the cost basis of short- and long-term holders (STH and LTH),” Chaine noted.
When the realized LTH price is crossed upwards, a long-term coin accumulation is taking place , indicating “ the bottom of the bear market ”, in addition to a coin maturatio.
The price of bitcoin can reach $20,000
The price of bitcoin should seek the $19,600 zone tomorrow, as shown by the Squeeze Momentum and Visible Range Volume Profile (VPVP) technical indicators, on 4-hour timeframes. Read More…
