Cryptocurrency Cryptoquant Analysts has published a new analysis of potential Bitcoin prices over the next six months.
The report prepared in accordance with the data during the chain says that the current impulse is located in the “initial rally” area. According to Cryptoquant, this situation can be a harbinger of a new wave up in bitcoins.
The analysis emphasizes three different scenarios for bitcoins:
Optimistic scenario (bull market)
According to the analytical company, if the ratio on the network breaks and supports above 1.0, metric in the chain, such as NUPL and MVRV, will signal the new bull impulse, and in this case, Bitcoin can reach $ 150 to $ 150, which, similar to the 2017 and 2021 cycles.
The main scenario (period of consolidation)
If the ratio remains from 0.8 to 1.0, the market is expected to enter the wide process of consolidation in the strip from $ 90,000 to 110,000 US dollars. In this script, investors will retain their current positions, but will be careful with new purchases.
Pessimistic scenario (Correction)
A decrease in the ratio of to 0.75 levels may lead to the fact that short -term investors turned to profit, which can lead to a reduction in the price of up to $ 75,000 to $ 85,000. Nevertheless, Cryptoquant believes that this scenario is less likely, noting that the correction has already occurred recently.
*This is not an investment council.
