Bitcoin

Can Bitcoin Holders Expect Bull Run in 2022? Here’s Where BTC Price is Heading Next!

Written by: Nidhi Kolhapur

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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May 17, 2022

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Over the previous 24 hours, the market has been in the negative as retracement has been observed across the board. Bitcoin, the market leader, fell 2.5 percent, while Ethereum fell 4.03 percent. Avalanche (AVAX) was among the worst performers, losing more than 7.5 percent.

BTC Price

BTC/USD moved in a range of $29,251.89 to $31,308.19 over the last 24 hours, exhibiting significant volatility. Trading volume has climbed by 27.05 percent to $32.54 billion, with a total market valuation of $560.39 billion, resulting in a 44.38 percent market dominance.

BTC has been consolidating since the morning, indicating that it is poised to go upward in the coming 24 hours.

When the $25,500 support was briefly tested in the middle of last week, bitcoin experienced a strong reaction higher. BTC/USD quickly recovered, reaching $31,000 on May 13, 2022. 

As a result, the present minor drop to $29,500 should quickly turn into another push upward. Before selling pressure may resurface, Bitcoin is likely to achieve new local highs in the coming days. 

Next Bull run soon?

The projected Bitcoin (BTC) price to reach $100k in December 2021 failed, according to PlanB, the author of the Stock-to-Flow (S2F) model, because it had been in a bear market since April 2021.

The Bitcoin (BTC) price is currently forming a bottom as the Bitcoin market is under intense pressure. The bull market will arrive soon.

PlanB estimated $100k in December 2021 based on the Stock-to-Flow model in 2021. However, after reaching a high of about $69k in November, the BTC price has entered a bear market. The price has since dropped to a low of $26,350 on May 12.

PlanB currently claims that the market’s pressure is due to Bitcoin (BTC) creating a fresh bottom. According to new information, the BTC price is projected to bottom out in the second half of 2022, possibly in October. Following that, a bull market will begin, bringing values towards $100,000. 

“Dec 2021 I was still hoping for a 2nd leg of the bull market. But in Q1 2022 it became clear that this bitcoin bull market was over. We entered a bear market since Apr 2021 peak (yes ATH was Nov 2021). Now we are creating a bottom. Then a new bull market will start. BTC cycles.”

Famous experts like Peter Brandt and Michael van de Poppe have already expressed similar sentiments. Peter Brandt recently forecast a bottom near $27,000, from which a rise could be expected. Michael van de Poppe also believes the Bitcoin (BTC) price could drop to roughly $28,000 before resuming its bullish trend.

Furthermore, the price momentum is explained by the long-term development of short holdings and the liquidation of long ones. The purchasing and selling of whales are now keeping the price near $30,000. 

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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