The Currency Analytics
By Steven Anderson
The stock to flow ratio has been the highest for Gold so far in 62 years. A well-known crypto analyst stated, it is not possible for regular commodities to provide for…
Bitcoin is reported to have a stock of 17.5 million coins. The supply is at 0.7 million per year. This is a notable equivalent to the 25 S/F ratio.
While the overall data of the cryptocurrency market is in favor of the bull market, cryptoanalysts add to the confidence by stating that the worse is over for BTC.
Willy Woo, a technical analyst, opines, "I'm swimming in data and you kind of get intuition concerning things.
The analyst backs his opinion by looking through the matters that are considered in looking at the adoption curve of BTC and further states: “We see a doubling in user base every…
There are contradictory bearish arguments against Bitcoin as well.
Tone Vays stated, "Lot of the big institutional holders have not capitulated. The Novogratz’s and the Tim Drapers who have been holding these coins for a long time.
However, for those who are looking to place their bets considering where Bitcoin is heading next, then the data might be overwhelmingly in favor of the bull market.
The 4-hours MACD for BTC/USD is placed in the bearish zone. 4 hours RSI (Relative Strength Index) is moving towards the 50 levels.
If Bitcoin would replace gold completely, then BTC would be valued at $350000.