{"id":288422,"date":"2021-07-01T14:00:52","date_gmt":"2021-07-01T11:00:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-posts-third-monthly-red-candle-with-stock-to-flow-price-model-echoing-early-2019\/"},"modified":"2021-07-01T14:00:52","modified_gmt":"2021-07-01T11:00:52","slug":"bitcoin-posts-third-monthly-red-candle-with-stock-to-flow-price-model-echoing-early-2019","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-posts-third-monthly-red-candle-with-stock-to-flow-price-model-echoing-early-2019\/","title":{"rendered":"# Bitcoin posts third monthly red candle with Stock-to-Flow price model echoing early 2019"},"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-6a3a668836249\" 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-6a3a668836249\" 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-posts-third-monthly-red-candle-with-stock-to-flow-price-model-echoing-early-2019\/#Stock-to-flow_%E2%80%9Cmake_or_break%E2%80%9D\" >Stock-to-flow &#8220;make or break&#8221;<\/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-posts-third-monthly-red-candle-with-stock-to-flow-price-model-echoing-early-2019\/#A_correction_waiting_in_the_wings\" >A correction waiting in the wings?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin posts third monthly red candle with Stock-to-Flow price model echoing early 2019 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) closed its third red monthly candle in a row this week as a popular analyst likened BTC price action to January 2019.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1410530418495983617\">tweet<\/a> on July 1, PlanB said that BTC\/USD is now the furthest away from his stock-to-flow model&#8217;s estimates in over two years.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stock-to-flow_%E2%80%9Cmake_or_break%E2%80%9D\"><\/span>Stock-to-flow &#8220;make or break&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After May&#8217;s huge capitulation event, Bitcoin price action has failed to regain lost ground, staying around 50% below recent all-time highs.<\/p>\n<p>As a result, price models are getting a serious test \u2014 even as on-chain indicators are beginning to flash bullish again.<\/p>\n<p>In the case of stock-to-flow, which calls for an average price of at least $100,000 this halving cycle, the situation is getting precarious.<\/p>\n<p>Famous for its accuracy, the model has accounted for every twist and turn in BTC price action since its inception. Now, however, the spot price is nearing the limits of what it can accommodate.<\/p>\n<p>&#8220;Even for me it is always a bit uneasy when bitcoin price is at the lower bound of the stock-to-flow model,&#8221; PlanB admitted last week.<\/p>\n<p>Nonetheless, given the changes that can occur in Bitcoin in a matter of months, there is little cause for concern about stock-to-flow becoming invalidated.<\/p>\n<p>&#8220;June closing price $35,037 .. as far below S2F model as in Jan 2019,&#8221; PlanB added on Thursday, implying that it is still &#8220;business as usual&#8221; for the model&#8217;s relationship with price.<\/p>\n<blockquote><p>Next 6 months will be make or break for S2F (again).&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1410530418495983617\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>Last time Bitcoin was so far from stock-to-flow, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/s2fmultiple\/status\/1410459471227363330\">predicts<\/a> a price of $77,760 for Thursday, BTC\/USD had just emerged from the pit of the 2018 bear market, during which it dropped to just $3,100.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/34faa4ae-9504-4411-9a7e-0cac9d9f8cf1.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin stock-to-flow model as of July 1. Source: PlanB\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"A_correction_waiting_in_the_wings\"><\/span>A correction waiting in the wings?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, price playing &#8220;catch-up&#8221; with on-chain indicators has become something of a defining narrative in recent weeks.<\/p>\n<p><strong><em>Related:\u00a0Coincidence? Bitcoin saw its highs and lows on &#8216;Turnaround Tuesdays&#8217; in June<\/em><\/strong><\/p>\n<p>Yardsticks such as the popular Puell Multiple are hinting that a price bottom is on the cards, in line with historical precedent, with an implied bounce to follow.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">looks like still tracking -25% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> difficulty adjust for friday. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/TuqYAFU1wU\">https:\/\/t.co\/TuqYAFU1wU<\/a> bitcoin unaffected, tick-tock next block. mining profitability  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/yONPd88xJq\">pic.twitter.com\/yONPd88xJq<\/a><\/p>\n<p>\u2014 Adam Back (@adam3us) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/adam3us\/status\/1409801567415459843?ref_src=twsrc%5Etfw\">June 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The ongoing relocation of mining power away from China should also become less of a concern once complete. The mining difficulty is set for its biggest-ever decline this weekend as a result of the upheaval, something which will rapidly increase profits for miners and attract some new mining power.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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-posts-third-monthly-red-candle-with-stock-to-flow-price-model-echoing-early-2019\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin posts third monthly red candle with Stock-to-Flow price model echoing early 2019 &#8221; Bitcoin (BTC) closed its third red monthly candle in a row this week as a popular analyst likened BTC price action to January 2019. In a tweet on July 1, PlanB said that BTC\/USD is now the furthest away from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":288423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZTQ5N2YzN2UtYWQ3My00Mjg2LThhMjEtOGY1MjU3M2Y3MzVmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-288422","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\/288422","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=288422"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/288422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/288423"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=288422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=288422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=288422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}