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  Wall Street trader Martin S. (Buzzy) Schwartz, in his book "Pit Bull," explains the first law of physics, which states that an object in motion will continue to move until it is affected by an external force. In this case, Bitcoin has experienced a nearly 50% rally in the first seven weeks of 2023, reaching a six-month high of $24,900. The rally has been supported by external forces, such as positive sentiment in traditional markets. Despite the Federal Reserve's concerns and the resulting increase in Treasury yields, the crypto market and Wall Street's tech-heavy Nasdaq index have remained resilient.   According to one chart analyst, Bitcoin is expected to continue its upward trend, potentially doubling in value in the coming months. William Noble, the director of research at Emerging Assets Group and former analyst at Goldman Sachs and Morgan Stanley, believes that Bitcoin is breaking out from a long basing formation. There is a common saying that the larger t...

The recent rise in the number of Bitcoin wallets holding a non-zero balance of the cryptocurrency has reached a new record high. This suggests that despite the bear market in 2022 and a challenging global economic outlook for 2023, the adoption of the world's first and largest cryptocurrency by market capitalization is still increasing. Data presented by crypto analytics firm Glassnode showed that on January 8th, 2023, the number of Bitcoin addresses with a non-zero balance rose above 43.8 million for the first time, surpassing the previous record high of 43.76 million which was reached in mid-November 2022. Source: Galssnode Bitcoin New Addresses The growth in the number of Bitcoin wallets with a non-zero balance is a positive sign for the cryptocurrency. It indicates that more and more people are acquiring and holding Bitcoin, leading to an increase in the overall adoption of the digital currency. Despite the challenges that the cryptocurrency market faced in 2022, the steady g...

Bitcoin, the world’s first decentralized cryptocurrency, has been on a wild ride since its inception in 2009. Despite its tumultuous history, Bitcoin has managed to gain a significant following, with many investors and enthusiasts seeing it as a valuable investment opportunity. In recent years, Bitcoin has experienced explosive growth, with its price reaching new highs and attracting more attention from mainstream investors.   One of the most prominent voices in the Bitcoin community is PlanB, a quant analyst who is widely respected for his in-depth analysis and accurate predictions. PlanB is widely known for his Stock-to-Flow (S2F) model, which he uses to predict the future price of Bitcoin. The S2F model is based on the idea that the scarcity of Bitcoin is directly proportional to its value, and that the price of Bitcoin will continue to rise as its scarcity increases.   In a recent interview, PlanB stated that he believes that a Bitcoin explosion to $1,000,000 is no...

Mark Yusko, founder and CEO of Morgan Creek Capital Management, believes that the next Bitcoin bull market could start sooner than expected. He cites the combination of central bank policies becoming more dovish and the anticipation of the upcoming Bitcoin halving as the main factors contributing to the start of this next bull market. Yusko believes that the start of this "crypto summer" could occur in the second quarter of the year. Despite the Federal Reserve being unlikely to cut interest rates anytime soon, the markets tend to anticipate their decisions. Even a slowdown or pause in interest rate hikes is interpreted as a signal that a change is imminent, leading to a positive dynamic among all risk assets, including crypto. In conclusion, Yusko believes that the next Bitcoin bull market will start earlier than most people expect due to the favorable macroeconomic conditions and anticipation of the BTC halving. The start of this "crypto summer" could occur in the...

In the past, significant increases in the value of bitcoin have often been preceded by a technical signal known as a "golden cross." This signal is considered bullish by traders and can generate excitement. However, it is important to note that not every golden cross has resulted in a large rally for bitcoin. Recently, both bitcoin and the S&P 500 index, which is widely used as a benchmark for the stock market, are approaching the golden cross signal. This signal is considered straightforward to track and can be a positive indicator for traders. A golden cross is a technical signal that is produced in the charts of a security's price when the 50-day simple moving average (SMA) moves above its 200-day SMA. This crossover is viewed as a bullish signal, as it indicates that the market's short-term gains have surpassed its long-term gains. It is important to note that moving averages are backward-looking indicators, so the golden cross only signals potential for highe...

An analyst claims that based on stochastic patterns, the price of Bitcoin has the potential to increase by 189% compared to its all-time high. The Potential of Stochastic Indicators for Bitcoin. The price of Bitcoin is believed by many to be influenced by its four-year halving cycles. The resulting pattern suggests that the price of Bitcoin will reach an all-time high once every four years, with 2025 being the next such year. The Halving Cycle and its Impact on the Price of Bitcoin. One year before the next halving cycle, the path to a $200,000 price tag for Bitcoin will be open, according to one analyst. This price prediction is based on an analysis of Bitcoin's stochastic oscillator, which is synchronized with the highs and lows of the BTC/USD cycle. The Stochastic Oscillator and its Role in Bitcoin's Price Behavior Currently, the stochastic oscillator is printing its latest low, and if history is any indicator, the price of Bitcoin is expected to follow suit. The...

 BTC Surpass $23K Bitcoin (BTC) has seen a significant price spike in recent days, with the cryptocurrency breaking above $23,000 for the first time since December 2017. This has many investors wondering if a new bull market is starting for Bitcoin. One of the main factors driving the recent price increase is the growing institutional interest in Bitcoin. Major companies such as Square and MicroStrategy have invested billions of dollars in the cryptocurrency, and more and more traditional financial institutions are beginning to take notice. This institutional adoption is seen as a sign of increasing mainstream acceptance and legitimacy for Bitcoin. Bitcoin Reaches Historic Highs, Surpassing $23K Mark Another factor contributing to the price increase is the ongoing economic uncertainty caused by the COVID-19 pandemic. With governments around the world printing money to stimulate their economies, many investors are turning to Bitcoin as a hedge against inflation. However, i...

Bitcoin, the world's largest cryptocurrency by market capitalization, has been on a roll lately. After hitting lows of around $3,800 in December 2018, the price of BTC has been steadily climbing and recently broke out above $8,000. This has many analysts and investors wondering if we are seeing a repeat of the bull run that took place in 2019. One crypto analyst, who prefers to remain anonymous, believes that the current rally could be the start of another big breakout for Bitcoin. He points to several factors that could be driving the price higher. A widely followed crypto analyst says that Bitcoin ( BTC ) could be brewing a repeat of its 2019 breakout after forming a similar pattern over the last few weeks. First, the analyst notes that institutional investors are becoming more involved in the crypto space. This is evident in the growing number of companies, such as Fidelity and Intercontinental Exchange, that are launching crypto-related products and services. As more in...

This on-Chain Indicator Signals the Start of Bitcoin Bull Market   The transfer volume in profit gives signals of a bullish trend reversal for Bitcoin. The indicator realizes the reversal pattern that occurred in 2015 and 2018-19. If so, Bitcoin will no longer drop below the November 2022 bottom of $15,476. In today’s  on-chain analysis , BeInCrypto takes a look at a rarely used indicator that appears to have just signaled the end of a bear market. The transfer volume in profit – as this indicator is referred to – has ended a nearly 2-year downward trend in recent days. For  Bitcoin , this could be one of the early signals of the start of a new bull market. Transfer Volume in Profit  is calculated based on  the number of transferred coins whose price at the time of their previous move was lower than the price during the current transfer. It is worth mentioning that spent outputs with a lifespan of less than an hour are discarded. ...