The bull market isn’t likely to be seen anytime soon, but it is likely to be a roaring success. there’s a significant period of solid and steady consolidation in terms of BTC value momentum. After a successful October, the most popular asset crossed 50k dollars on Tuesday. With bull momentum in place for the first week of its full-time trading.
The most popular Bitcoin analysts and influencers are expecting an incredible fourth quarter of performance from the assets ‘ price momentum. Incredibly, according to PlanB who invented the stock-to-flow model (S2FX) recently published data from the chain. He stated that the asset will be completed in six months or longer for the second step.
The chart’s deepening color overlap that occurred in 2013 boosted the value of the asset by nearly 500 percent. In 2017, following the color gradient, The BTC price soared by around 450% and continued the same pattern in 2020 when the price increased by 550%.
Therefore, the analyst is anticipating following the same pattern. and predicts that the main asset could rise to $135k by year’s closing. Then, the asset may get another significant leap.
If the same thing happens again, this bull run has the remaining four months and the run could extend at this point. Alongside on-chain analysis, upgrades, and other things that are related to Bitcoin occur between November and December. Therefore, this could alter the price’s momentum by the time of the 2022 start.
What’s the next bull run?
The leader in the market for cryptocurrency Bitcoin is still below the 2021 peak, as is Dogecoin as well as Solana. The traders who missed the cryptocurrency market rally are contemplating when will we witness another bull market.
To be a successful bull market cryptocurrency would require the help of free money. But, the same simple money that’s fueling the increase in cryptocurrency prices is the main reason why crypto traders are stoked about digital currencies. In other words, the massive printing of money is making people believe that cryptocurrency is the future of currencies and that printing, as well as monetary ease, is now making ways to be incorporated into digital currencies, increasing the price of the cryptocurrency.
The times of cheap money are on the horizon. South Korea and New Zealand have already raised rates and the Fed expects to reduce rates in 2021 before it will raise rates by 2022. This will help to slow the increase in asset prices which includes cryptocurrency.
Analyzing the next Crypto Bull run
Valkyrie Bitcoin ETF launch seems to have little influence on the rise of Bitcoin, as many Bitcoin enthusiasts had hoped for. On the same day, Bitcoin made it to the new ATH The first cryptocurrency also reached another milestone. It hit a $1.26 trillion market value.
CME Bitcoin futures are currently showing growth until December. Bitcoin’s November Futures are rising by 0.02 percent, while the December options are up 0.19 percent. This suggests that Bitcoin will increase its growth to December and may even cross that $72K level.
The indicator Bitcoin traders are watching for is that of the Fear and Greed index. The index stands at Extreme Greed, which might cause sellers to increase the BTC price lower. Bitcoin is back on track to follow with the US Dollar index, week began with a retest of the high of October 22, which was able to withstand the trend’s upward continuation.
BTCUSD since the beginning of October has been patiently waiting to see the publication of US Economic data and the CB Consumer price confidence and the sales of new homes that will be released later today. The data that is released will move the price.
On-chain Bitcoin information, primarily the Bitcoin fee is a well-balanced median of Bitcoin. In the context that Bitcoin is legally accepted as a currency for payment in El Salvador and many countries are willing to accept Bitcoin as a legal form of currency and have low transaction costs, they are essential. However, each day’s Bitcoin chart suggests an upward trend.
It was mainly after Bitcoin was able to break through its high-frequency resistance of August 9. MACD, as well as RSI indicators on charts daily, are bearish. Bitcoin fell just below the support of the uptrend channel. It may correct lower to $53100 should it not reach $63800.
After its huge 2021 uptrend, Bitcoin’s price has been trying to test EMA50 to provide support. If BTCUSD fails to trade above $63800-$64100 and isn’t any significant bull strength, bears could be able to take over BTCUSD and drive it lower, retesting the EMA50. Supports to keep an eye on including $55300, $53100, and $53000.
If you hear any analysts declare that Bitcoin price may reach $110K, don’t believe it considers the uptrend parallel channel. In the long run, Bitcoin is very likely to reach this level in December 2021 if BTC is supported by a strong uptrend.
The 4-Hour BTCUSD shows an inverse Head and Shoulders structure that is being created. This pattern suggests that Bitcoin may show signs of the beginning of a correction if it is between $63800 and $64100, which is a Fibo 0.618 that was seen in the drop on October 21.
In conclusion, Bitcoin is still one of the most exciting investments to make as its increasing scarcity and the increasing number of miners moving to the US demonstrate a strong belief in its steady expansion. Lowering fees on Bitcoin’s networks and its growing popularity aids in the spread of Bitcoin worldwide. Robinhood for instance has launched its crypto-wallet and already has 1 million customers, so I strongly recommend keeping the eye on BTC.