The analyst who first applied the stock-to-flow model to Bitcoin says the top cryptocurrency’s bull market is just getting started despite its recent struggle to stay above $60,000.
In a new tweet, PlanB tells his 347,400 followers he believes that BTC’s current boom cycle is far from over.
“In my opinion, we are only about 4 months into the bull market and nowhere near the end of it. Bitcoin is just getting started.”
The quantitative analyst looks at Bitcoin’s historical performance in terms of momentum to support his argument. According to PlanB, BTC’s relative strength index (RSI), which measures the pace of price movements for a given asset, has not yet reached its peak.