The bear market is almost finished, according to PlanB, the inventor of the stock-to-flow (S2F) model. He is upbeat because periods with the Realized Price Moving Average (RPMA) 1 and the Relative Strength Index (RSI) 50 have traditionally been excellent buying opportunities. PlanB, on the other hand, believes that RPMA and RSI will take some time to climb again.
As Bear Hug Eases, Bitcoin (BTC) Has Reached Its Bottom
The Bitcoin (BTC) price is building a fresh bottom for the next bull market, according to PlanB. This week’s BTC movement followed PlanB’s predictions, with the price hitting a low near $28,500.
PlanB has now tweeted that the bear market is almost over and that the price should begin to rise again. At current levels, he feels the RPMA and RSI indicate a bottom for Bitcoin. However, we could witness a rebound in 6-9 months (like in 2014 and 2018/19) or 1-2 months (as in 2011 and 2020). Bitcoin is currently trading sideways towards the $30,000 mark.
PlanB also found a link between the US stock market and Bitcoin, particularly the S&P 500 and Bitcoin. Since November 2021, both the stock market and Bitcoin have declined.
Meanwhile, the S&P 500 is in a bear market, having dropped over 20%. Long-term investors, according to analysts, may benefit from Bitcoin accumulation at the current price.
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