Beware of These 3 Bitcoin Predictions: What’s Next for BTC?

The new analysis shows that the next Bitcoin run is correlated with the metric of USDC flowing into exchanges. Well-known analysts from CryptoQuant, IncomeSharks and Eight Global have revealed critical predictions for BTC.

This should be for the next Bitcoin parabolic bull run

CryptoQuant analysts argue that Bitcoin will start the next bull run once precious USDC flows into exchanges. President crypto has retained its value as a solid store of assets despite the aggressive bear market in the current cycle. Still, CryptoQuant is highlighting a metric by which BTC can make its much-anticipated debut.

CryptoQuant CEO Ki Young Ju came up with new assays late Friday. In his post, he said that “the next Bitcoin parabolic bull run may begin once major USDC flows into exchanges.”

Ki underscores the current scarcity of USDC reserves on exchanges. He also adds that 94% of the USDC supply remains outside the exchanges. Some of these USDC tokens belong to American institutions in classical finance, such as Goldman Sachs, BlackRock, Fidelity Investments and the like. Giant American corporations have large institutional clients demanding mid-range BTC. Ki’s argument depends on the size of the demand for BTC. These institutional clients have the ability to generate massive interest in Bitcoin, attracting attention and driving a price increase.

However, the American financial giants that have these customers are prioritizing USDC, whose reserves are currently outside the exchanges. This shows that they are not ready to make a random breakthrough to buy BTC now. In this bet, he said, “they will act when they receive orders from their customers.”

Local stablecoins see massive inflows, while USDC sees periodic exits

This is a pattern that has been noticed since July 2019. The rate of USDC supply on exchanges soared in March 2021, quickly before the Bitcoin peak of November last year. However, it has been seeing a decline since then. On the other hand, stablecoins such as BUSD and USDT rose in the same time frame. The supply rate of BUSD on the exchanges is currently 70%, while the supply rate of USDT on the exchanges is 25%. Which, by looking at these data:

BUSD currency reserve is growing despite bear markets, which could indicate that crypto natives are saving some money.

Two prominent crypto experts share high hopes for Bitcoin price

Crypto and market education platform IncomeSharks took to Twitter to share some information about Bitcoin (BTC). The well-known analyst and CEO of Eight Global also accompanies the platform with his insights to share his views on BTC. According to IncomeSharks, BTC’s dominance is still increasing. Van de Poppe seems to agree with this as he stated in his own Tweet that BTC is “entering the long zone.”

In addition to being bearish to date, BTC has weakened by 0.73% against its biggest rival, Ethereum. BTC’s 24-hour trading volume has also dropped just over 18%. On the daily chart for BTC/USDT, the 9-day EMA line has recently crossed above the 20 EMA line. However, the price of BTC is currently holding at the 9 EMA lines. Therefore, according to the analyst, investors need to be careful about taking a long situation right now. On the other hand, the RSI also shows that it might not be a good idea to go long on the weekend as it is currently negatively sloping into the multisold zone. Koindeks.comAs you follow, BTC spent most of the day hovering above $19,500.

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