As the positive mood created by spot Bitcoin ETFs continues, investors are wondering if higher levels will come.
At this point, analyst PlanB, who is closely followed by investors, said that the bull market is on the way.
Pointing out that there are indications that the Bitcoin bull market is on its way in a recent video, PlanB said he expects a rise.
Stating that the first of these indicators is the realized cost price of Bitcoin, the analyst stated that a significant bull market is probably on the way.
Noting that the current price of BTC is above the two-year cost price, PlanB said that this indicates that historically large upward movements are expected.
“The important thing we see on the Bitcoin chart is that the BTC price exceeds the two-year actual cost price (shown by the red dots)
So this is something new in Bitcoin. BTC price has surpassed the two-year realized price and this is an important signal.
However, it should not be ignored that the month of June is not over. In this context, it is necessary to wait for how June will close.
When we look at it historically, it is seen that the cost price exceeds the BTC price, resulting in an increase.
I think for about a year the price has fallen below the actual cost price and now the first month is rising again. This is interpreted as a sign that the bull market is about to accelerate.”
Bitcoin is at $ 30,400 at the time of writing.
*Not investment advice.
