Here are the signs that Bitcoin price will rise

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A cryptocurrency analyst, known under the name Yodaskk on social media, thinks that the price of Bitcoin could go up any time.

Yodaskk shared a long flood from his Twitter account the other day and listed developments that could trigger a new move in Bitcoin price. Among these developments, there are many different signs from the increase in the number of HODLers to Puell Multiple.

HODL Makers and Stock Market Data

Yodaskk actually shared dozens of different graphics on this flood he published on Twitter. But in this article we will focus on only a few of them. Among them, as mentioned above, there will be graphs such as graphs showing the increase in the number of HODLers.

Current information shows that the total number of Bitcoins that have never been used in the past 1 year has increased as the number of them increased. This is interpreted as people started to do HODL. According to many crypto commentators, the increase in the amount of inactive BTC can be interpreted as investors expecting an increase in BTC price.

At this point, when we look at the data in crypto exchanges, we can see that the general picture is in favor of Bitcoin. Yodaskk says that at this point, the amount of money sent to exchanges has decreased since the BTC price fell below $ 10,400. This may mean that people are no longer trading as much as before, in other words, they continue to do HODL.

S2F Model and Historical Data

It is possible to mention the S2F (stock flow) model regardless of HODL builders and stock market data. This model, developed by PlanB specifically for Bitcoin, is based on the production speed of Bitcoins and the demand for Bitcoin. Based on this model, PlanB predicted that the price of Bitcoin could rise above $ 100,000 in a few months-years. When we look at the current data, we can say that this model is in good condition for now.

The current trend of Bitcoin seems to be similar to historical data. Bitcoin started to rise suddenly in December 2017 and went up to $ 20,000. Yodaskk thinks that the foundations of a performance similar to those in 2017 may be being laid now and shares the chart below:

After sharing all these charts, Yodaskk concluded that Bitcoin is in good condition right now. It may even be possible to conclude that Bitcoin is at the beginning of a new bull cycle in the light of this information.

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