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    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

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    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

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    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

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    Hoskinson pitches software-enabled crypto self-regulation to Congress

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    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

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    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

    Is Bitcoin Like Buying Google Early? The Shocking Comparison

    Harmony's Cross-Chain Bridge Exploited for $100M

    Harmony’s Cross-Chain Bridge Exploited for $100M

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin

    Bitcoin Could Restart Increase If The Bulls Clear This Resistance

    Ethereum

    What Could Trigger Sharp Decline

    Bitcoin

    Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

    Ethereum

    Ethereum Tops Near $1,200, Why Dips Could Be Attractive

  • Learn About Crypto
    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

    What Is A Bull Flag Pattern and How to Use It

    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

    Wash Trading: What Is It and How Does It Work?

    Wash Trading: What Is It and How Does It Work?

  • Regulation
    Singapore’s changed stance on crypto

    Singapore’s changed stance on crypto

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

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Home Bitcoin News

Bitcoin (BTC) Is Creating A Bottom For The Next Bull Market

May 16, 2022
in Bitcoin News
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Bitcoin (BTC) Gives A Major Breakout to $47,000, Its 200 DMA Coming Soon?
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PlanB, the creator of the Stock-to-Flow (S2F) model, says the expected Bitcoin (BTC) price to touch $100k in December 2021 failed because it was already in a bear market since April 2021.

Currently, the Bitcoin (BTC) price is creating a bottom as we are witnessing strong pressure in the Bitcoin market. The bull market will soon follow.

PlanB Postulates the Next Bull Market

Previously in 2021, PlanB predicted $100k in December 2021 based on the Stock-to-Flow model. However, the BTC price moves into the bear market after making a high of almost $69k in November. Since then, the price has made a low of $26,350 on May 12.

PlanB now says the pressure seen in the market is a result of Bitcoin (BTC) forming a new bottom. As per new data shared, the BTC price is expected to form a bottom in the next half of 2022, possibly in October. Thereafter, a bull market will start, pushing prices towards 100k.

Bitcoin (BTC) 2Y MA
Bitcoin (BTC) 2Y MA. Source: PlanB

“Dec 2021 I was still hoping for a 2nd leg of the bull market. But in Q1 2022 it became clear that this bitcoin bull market was over. We entered a bear market since Apr 2021 peak (yes ATH was Nov 2021). Now we are creating a bottom. Then a new bull market will start. BTC cycles.”

Notable analysts such as Peter Brandt and Michaël van de Poppe had also shared the same scenario. Recently, Peter Brandt had suggested a bottom near the $27,000 level from where a rally could be seen. Michaël van de Poppe also thinks the Bitcoin (BTC) price could slip around the $28,000 level for a fresh bullish recovery.

Moreover, a buildup of short positions and liquidation of long positions for quite some time now explains the price momentum. Whales’ buying and selling are currently maintaining the price near the $30,000 level.

Price Forecast Based on the Bitcoin Mid-Halving Correction

Bitcoin mid-halving correction on April 11 was an important event to determine the upcoming price trends. According to the data, the BTC price could move into a long bear market if the price fails to surpass the $50k level. Currently, Bitcoin is moving exactly as per the historical price trend. Moreover, the recent crypto market crash indicates the Bitcoin (BTC) price has moved into a bear market.

 Bitcoin Mid-Halving Correction
Bitcoin Mid-Halving Correction. Source: Santiment.

The model also indicates a Bitcoin rally after October, possibly at the end of the year. That could mean the BTC price will continue to trade in the range of 32k-27k level and investors have to wait a little longer to make fresh entries.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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Tags: BitcoinBottomBTCBullCreatingMarket
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  • bitcoinBitcoin(BTC)
    $21,118.00-0.28% 24H
    BITCOIN
    24H : -0.28%
    Volume : $17,247,691,009.00
    Marketcap : $402,171,074,957.00
  • ethereumEthereum(ETH)
    $1,197.44-1.40% 24H
    ETHEREUM
    24H : -1.40%
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    Marketcap : $144,615,210,068.00
  • tetherTether(USDT)
    $1.0000.030% 24H
    TETHER
    24H : 0.030%
    Volume : $32,625,906,248.00
    Marketcap : $66,904,686,812.00
  • usd-coinUSD Coin(USDC)
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    USD COIN
    24H : -0.12%
    Volume : $3,616,894,417.00
    Marketcap : $55,971,900,783.00
  • binancecoinBNB(BNB)
    $233.08-1.69% 24H
    BNB
    24H : -1.69%
    Volume : $895,179,353.00
    Marketcap : $37,998,283,191.00