Bitcoin 896-Day ‘Accumulation’ Will Now Spark $100K Bull Run


BTC price to break “consolidation structure” According to an accompanying chart, the time since December 2017 has been “one massive accumulation phase,” during which investors repositioned themselves and bought in. This “consolidation structure,” as Positive Crypto calls it, is now ripe for disintegration, to give way to a new bull run which will obliterate the $20,000 zone. Despite wobbling around the halving and after, the Bitcoin price has entirely erased losses from its March crash, which Positive Crypto notes formed a “higher low” compared to the peak of the bear market in December 2018. Are hodlers really preparing for $100,000? As Cointelegraph reported, various analysts are now convinced that after this month’s block subsidy halving, a bullish trend will kick in for Bitcoin within the next one to two years at most. Perhaps most daringly, PlanB’s stock-to-flow model predicts a $288,000 price tag by 2024, with all-time highs easily being two times that — $576,000 per Bitcoin. Network indicators are also providing food for thought. 60% of the Bitcoin supply, for example, has not moved in a year or more, a trend which has stayed the same for five months, despite wildly varied price performance. Bitcoin’s position in its current so-called “hodl wave,” supply data says, has triggered bull runs in every previous cycle.