Bitcoin 24h prediction
chart you can see that the price action continued creating minor higher highs and higher low as it is still in the ascending channel but now an interaction has been made with the horizontal resistance at 3994.4 so now we are. He hypothesizes that the stock-to-flow (SF) ratio directly affects price discovery based on historical data. The buyers are currently in control as the price is moving in an uptrend but this might lead to exhaustion after which the sellers could start gaining control which would then lead to a breakout to the downside. Bitcoin BTC/USD, on yesterdays open the price of Bitcoin was 3954 and from there the price increased at first to 3987, then fell to 3945 from where it increased again to 3994.4 and then fell again to 3968. Bitcoins market dominance has been hovering around the same levels but with a slight increase as its currently sitting.68. Note: This predictions/forecast are done using various different types of Algorithms applied on the historical price of Bitcoin (BTC).
According to this model: The predicted market value for bitcoin after May 2020 halving is 1trn, which translates in a bitcoin price of 55,000. The hypothesis in this study is that scarcity, as measured by stock-to-flow, directly drives value, he explains. As per the forecast and algorithmic analysis, the the price of 1 Bitcoin (BTC) will be around 21,705.7952 in 2024. The next scheduled halving will likely also have a significant impact on the market as history doesnt often repeat, but it does rhyme. Whats more, the next reward halving means the inflation rate will fall to under two percent or below the Federal bitcoin real time graph Reserves inflation target.