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With each passing day, Bitcoin’s popularity grows and more mainstream investors become aware of it. In addition, the price of bitcoin has risen sharply in recent months. However, one measure, the stock-to-flow ratio, has been the most reliable predictor of this run. And the current bull run is just getting started according to the Stock to flow creator.
The month of March saw bitcoin price skyrocketing while reaching all-time highs above $60000 before plunging downward. But PlanB still thinks that there is more space for it to again start marching upwards.
IMO we are only ~4 months into the bull market and nowhere near the end of it,” PlanB tweeted on Friday. “Bitcoin is just getting started,” he added, showing Bitcoin’s current path on one of his Stock-to-Flow charts.
The stock-to-flow model, also known as (S2F or S2FX) by Plan B, is a common chart that compares the number of BTC in circulation (stock) to the number of issued coins minted during mining (flow).
Bitcoin retraced down near $50,000 after trading above $61,000 earlier this month. The decline took place over the course of two weeks, with some relief bounces thrown in, rather than in a single, $10,000 drop. BTC is trading at $54,838 at the time of publication, according to coingecko reports, after a day of overall upward price action.
According to YouTuber and derivatives trader Tone Vays,
Bitcoin is consolidating but I remain bullish in this market,” Vays told Cointelegraph. “While it is still possible for bitcoin to make a lower low for the month in the $48k range, I believe we will go up to above $70k before June,” he added.