BTC has crossed all the limits and traded to a new ATH price of $68,263.15 at the time of writing. Some major key factors show why it is the beginning of the Bitcoin Bull Run.
All eyes are on the $70K target for this week. The Bitcoin bulls are set to push it to another ATH price of all times. Meanwhile, the stock-to-flow model from PlanB predicts a $100K price target for this year’s end. In his latest tweet, he mentioned that the S2FX model predicts a $288K average in the current bull cycle. While this seems extremely optimistic, we cannot deny that Bitcoin’s prices always outperform our expectations.
Some key factors that suggest the beginning of Bitcoin Bull Run are:
- The historical charts of 2013 and 2017 show that this is the next bull run for BTC. If BTC performs the same as it did in its previous full runs, we can expect a top at $200,000 level
- The search volume for BTC is quite low. Big money is used to push the price of BTC to this ATH instead of retail money, suggested by crypto analyst Lark Davis
- Those who were holding 10-100K $BTC got 43K more BTC in the last 5 days. This resulted in Bitcoin’s new ATH, said on-chain data provider, Santiment.
It shows that the BTC bulls are all set to open another historic chapter for the Bitcoin lifecycle.
