Bitcoin price begins to rally, new all-time highs of $85K before 2022

Bitcoin has nearly spent an entire month below its 200-day moving average, however, predictions put its value at $85K before 2022.

@JakConnorTT

Published Jun 16, 2021 5:32 AM CDT
Updated Jul 14, 2021 7:07 PM CDT

49 seconds read time

The price of Bitcoin has been suffering as of late, but now a rebound is seemingly occurring, according to some projections.

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May was a dark month for the world of cryptocurrency as many, if not all coins, plunged in value after Bitcoin saw a considerable correction in price. Now, reports are indicating that the dip in price has come to an end as researchers are pointing towards spent output profit ratio (SOPR) and stock-to-flow deviation as evidence.

PlanB, the creator of stock-flow-deviation, has said it would be a "surprise" if Bitcoin didn't recorrect to the stock-flow-deviation line. Here's what was stated, "So we may well see price make its way back up to the stock to flow line in the coming months. This would mean new all-time highs for $BTC before the end of this year, as the Stock to Flow line is currently sitting at $85,000." If you are interested in reading more about this story, check out this link here.

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NEWS SOURCE:cointelegraph.com

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.