Breaking 'bear market' in Bitcoin demand will spark next BTC price surge — analysts

1/20/2022 1:50:00 PM

All eyes are on good old supply and demand for a snowballing BTC price this year.

All eyes are on good old supply and demand for a snowballing BTC price this year.

BTC price action could benefit most from the classic Bitcoin supply and demand transformation this year, analysts agree.

) demand has been in a “bear market” for a whole year, but a surge is most likely what will spark a new price run up.That’s according to prominent economics analyst Lyn Alden, who in a Twitter debate this week bet on demand snowballing and lifting BTC price action.

Back: Watch supply & demand for BTC price cuesResponding to a survey by stock-to-flow model creator PlanB, Alden said that a demand transformation is more likely to cause a BTC price boom than multiple other events favored by bulls.These include the United States approving a spot price-based exchange-traded fund (ETF), a country following El Salvador to make Bitcoin legal tender, advancements in the Lightning Network and the knock-on effect of Bitcoin’s recent Taproot upgrade.

Read more: Cointelegraph »

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BTC ) demand has been in a “bear market” for a whole year, but a surge is most likely what will spark a new price run up..Bitcoin and other cryptocurrencies declined sharply in the overnight session.BTC ) has been below $45,000 for 14 days and is currently 40% below the $69,000 all-time high.

That’s according to prominent economics analyst Lyn Alden, who in a Twitter debate this week bet on demand snowballing and lifting BTC price action. Back: Watch supply & demand for BTC price cues Responding to a survey by stock-to-flow model creator PlanB, Alden said that a demand transformation is more likely to cause a BTC price boom than multiple other events favored by bulls. These include the United States approving a spot price-based exchange-traded fund (ETF), a country following El Salvador to make Bitcoin legal tender, advancements in the Lightning Network and the knock-on effect of Bitcoin’s recent Taproot upgrade. There are two main reasons why stocks declined. Bitcoin Twitter survey (screenshot). Source: PlanB/ Twitter Instead, Alden agreed with Blockstream CEO Adam Back that significant change will come as a result of a positive feedback loop of supply and demand. By measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market.

Back described the process as a “supply squeeze as ever more coins move to cold storage, continued buying, price run up then chased by reflexivity. Second, stocks and Bitcoin prices retreated as investors watched the American bond market.” “Reflexivity” refers to the mutually beneficial relationship of fundamentals and market expectations once an asset starts moving which triggers stronger and stronger performance. This. January 20, 2022 Analyzing the current state of supply against demand, however, Alden confirmed that 2021 had done little to change the status quo since the first quarter. The Fed has already hinted that it will implement about 3 rate hikes this year. “BTC has been in a bear market in terms of demand since Q1 2021, back when ARKK peaked,” she argued alongside data from on-chain analytics firm Glassnode.ch For example, earlier in September, the basis rate ranged from 9% to 13%, indicating confidence, but on Sept.

“However, the supply side has been unusually tight for this cycle, holding up price to a surprising degree, even touching slight new highs at one point since then. Dry kindling, no spark. The conference started on Monday in Miami.” Bitcoin active supply annotated chart. Source: Lyn Alden/ Twitter 'Uncertain monetary policy' hinders trend break As .