Due to the unification of Bitcoin (BTC) more than $ 80,000 amid a wider stock sale in the stock market, an analyst in the encoded currency participated in optimistic expectations with caution in the original in April.
To achieve this purpose, the nickname analyst Planb I stated that investors should notice that the decrease in prices in the last Bitcoin has nothing to do with the dynamics of the interior currency, but it is broader economic factors, such as the uncertainty surrounding President Donald Trump’s policies, He said In YouTube video on April 6.
According to the expert, the Bitcoin path this month will depend on a wider market recovery, mainly on how the S&P 500 responds to the lack of economic certainty associated with the Trump tariff position.
Interestingly, according to Finbold, Bitcoin has been stable in the first place, although the stock market suffers from huge wiping due to the tariff concerns.
Planb He pointed out that if you commit S&P 6000, Bitcoin may exceed $ 100,000 again, with a possible rise to $ 300,000 with gold prices, stock market trends, and its stock to stock (S2F). However, he stressed that this is not a guarantee.
“When the S&P 500 rises, the stock market rises, Bitcoin rises. <...> When the S&P recover from the current policy shocks and returns to 6000 or even 7000, Bitcoin can easily restore $ 100,000 or until up to $ 300,000, “as predicted.
In addition to the bullish tone, Planb He pointed out that April was historically a strong month for Bitcoin. Based on the previous performance, it is believed that the month can be a platform for high prices heading to May and June.
The post -half effect
At the same time, based on its long -term model to flow, Planb It expects Bitcoin to ride a half -half wave and move in six numbers as part of a wider rise cycle.
The expert also reaffirmed that the Taurus 2024 market is still intact, with a focus that bitcoin is currently present in the “greed phase” of the cycle. The current stage compared previous sessions in 2013, 2017 and 2021, each of which witnessed Bitcoin a significant increase after the events of the half.
According to his expectations, the real market euphoria may still wait for us, which is likely to be unveiled later in the year.
He added: “I don’t see much pain in the market. Most people are in profits and this is very healthy, and it is very valid in my opinion.”
Moreover, the stock model to the flow is historically in line with the main bitcoin pools. The model indicates that the price tends to accelerate as the newly abolished width is decreased after half to half, which is expected to happen again.
It is worth noting that the model expects the average bitcoin price of $ 500,000 for the half -cycle from 2024 to 2028. Given that the S2F includes a wide prediction range from $ 250,000 to a million dollars, Bitcoin worth $ 300,000 remains comfortably within the border.
Bitcoin price analysis
At the time of reports, Bitcoin was trading at $ 81,558, after correction 1.5 % in the past 24 hours. The basic principle is also red for the weekly time frame, a decrease of 1.15 %.
Technically, Bitcoin is trading less than the average simple movement for 50 days and 200 days, indicating a short weakness to the average period. The 24-day relative index (RSI) is 45.26, which places it in a neutral-neutral area, but it lacks the bullish momentum.
Watch the full analysis below:
Distinctive image via Shutterstock
