A popular crypto analyst thinks Bitcoin (BTC) is still in the early stages of a major bull run.
Three Key Indicators
The analyst, known as TechDev, shared a chart on social media showing three indicators that he believes point to a bullish future for Bitcoin:
- Liquidity Cycle: TechDev compares Bitcoin’s price to the relationship between Chinese 10-year bonds (CN10Y) and the US money supply (M2SL). He suggests that a widening gap between these two could lead to big gains for Bitcoin.
- Relative Strength Index (RSI):
This indicator measures whether an asset is overbought or oversold. The RSI for Bitcoin is currently showing patterns similar to those seen before the massive bull run of 2017.
- Fisher Transform Indicator: This indicator helps identify trend reversals. TechDev’s chart shows that the Fisher Transform for Bitcoin is also displaying patterns similar to those seen before the 2017 bull run.
What This Means for Bitcoin
The analyst believes that these indicators suggest Bitcoin is far from its peak. He sees a potential for significant growth in the future.
Important Note:
This is just one analyst’s opinion. Always do your own research before making any investment decisions. Cryptocurrencies are highly volatile and risky. /p>
