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Thursday

22 April 2021

Buy more Bitcoin, analyst tells institutions as $257M in BTC leaves Gemini

Buy more Bitcoin, analyst tells institutions as $257M in BTC leaves Gemini


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“Now that all Pi-cycle, Wave, Rainbow and NUPL fans have sold their bitcoin, it is probably time for institutions to resume buying into Q2,” PlanB wrote, highlighting four indicators.

Of these, the so-called “Rainbow” price chart, which categorizes spot price in terms of investor sentiment, highly favored hodling this week, as well as buying more BTC at current prices. .

As Cointelegraph reported, PlanB’s stock-to-flow Bitcoin price models call for $100,000 and more this year, with as much as $576,000 and higher hitting during the current halving cycle ending in 2024.

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