{"id":233886,"date":"2021-04-23T12:08:37","date_gmt":"2021-04-23T09:08:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory\/"},"modified":"2021-04-23T12:08:37","modified_gmt":"2021-04-23T09:08:37","slug":"bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory\/","title":{"rendered":"# Bitcoin price &#8216;relief&#8217; move to $47K pushes BTC below stock-to-flow trajectory"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a416900ecfc8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a416900ecfc8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory\/#%E2%80%9CAstonishing%E2%80%9D_stock-to-flow_gets_it_right_again\" >&#8220;Astonishing&#8221; stock-to-flow gets it right again<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory\/#Sentiment_shakeout_continues\" >Sentiment shakeout continues<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price &#8216;relief&#8217; move to $47K pushes BTC below stock-to-flow trajectory <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) may be making long traders miserable but one bullish analyst says that he is &#8220;relieved&#8221; that it has shed 22% in a week.<\/p>\n<p>In his <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1385496730200907776\">latest<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> update, quant analyst PlanB noted that the price dip to under $48,000 has sent BTC\/USD below its target laid out by his stock-to-flow price model.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CAstonishing%E2%80%9D_stock-to-flow_gets_it_right_again\"><\/span>&#8220;Astonishing&#8221; stock-to-flow gets it right again<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As such, Bitcoin is no longer &#8220;front-running&#8221; stock-to-flow, which is traditionally a highly accurate price forecasting tool. After trading above its required level, PlanB suggested that he had become concerned progress was becoming inorganic.<\/p>\n<p>&#8220;I am sort of relieved btc price is now under s2f model value again,&#8221; he wrote in a conversation with &#8220;The Bitcoin Standard&#8221; author Saifedean Ammous, who called its predictions &#8220;astonishing.&#8221;<\/p>\n<blockquote><p>&#8220;For a moment I thought that people were front running the model and that the supercycle had started. Now we are back to normal .. like clockwork.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/af051a77-64ff-40b6-81d6-bc3af4246f9c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD spot price vs. stock-to-flow trajectory. Source: PlanB\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Both the terms &#8220;clockwork&#8221; and &#8220;supercycle&#8221; will be familiar to long-term hodlers, these often describing Bitcoin&#8217;s relationship to stock-to-flow and the qualities of the current bull run, respectively.<\/p>\n<p>As Cointelegraph reported, the two iterations of the model, stock-to-flow and stock-to-flow (S2F) cross-asset (S2FX), variously call for an average BTC\/USD price of $100,000 or $288,000 between now and 2024.<\/p>\n<p>Previously, PlanB said he believed Bitcoin would not stop at $100,000, which it should hit this year<\/p>\n<p>&#8220;Bitcoiners are often too bullish in the bull market, and too bearish in the bear market!&#8221; podcast host Stephan Livera, responded to Ammous. <\/p>\n<blockquote><p>&#8220;I don&#8217;t think we supercycle this time either.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Sentiment_shakeout_continues\"><\/span>Sentiment shakeout continues<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, various factors were being pitched as the impetus for the latest round of price losses, these including CME futures now trading below spot price as bearishness enters, as well as a negative Coinbase premium.<\/p>\n<p>The latter suggests bullishness when it is positive, but the reverse \u2014 when Coinbase spot price is lower than that of fellow exchange Binance \u2014 is also true.<\/p>\n<p>The flip to negative coincided with a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of a major sell orders on Coinbase, each one causing a brief downward spike in its orderbook spot price.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/b2c4880d-8e91-407d-858a-ec3d3d21dae3.png\"><figcaption style=\"text-align: center;\"><em>Coinbase orderbook with selling and price dips. Source: Josh Olszewicz\/ Twitter<\/em><\/figcaption><\/figure>\n<p>In a sign that irrational sentiment is still to leave the market, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed Index<\/a> also remained in &#8220;greed&#8221; territory despite dropping to monthly lows, though still suggesting that a sentiment reset had yet to kick in.<\/p>\n<p>During its initial drop from all-time highs near $65,000, Bitcoin saw mass liquidations of long positions.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price &#8216;relief&#8217; move to $47K pushes BTC below stock-to-flow trajectory &#8221; Bitcoin (BTC) may be making long traders miserable but one bullish analyst says that he is &#8220;relieved&#8221; that it has shed 22% in a week. In his latest social media update, quant analyst PlanB noted that the price dip to under $48,000&#8230;<\/p>\n","protected":false},"author":1,"featured_media":233887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvOTAwNjY2OGMtZDNmMi00OTM5LTkwY2QtZTA0OTRkY2M0ZGU2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-233886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/233886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=233886"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/233886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/233887"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=233886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=233886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=233886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}