Bitcoin Bull, how long will it last? To predict future prices, supporters use a variety of charts and models.

Bitcoin supporters remain upbeat about the leading crypto asset's price, and many feel the bull run is far from over. Traders and people with a keen interest in short-term price volatility have been using a variety of methods to forecast the future price of BTC.

The picture above is a HODL waves chart via Unchained Capital and Glassnode on May 10, 2021. “The colored bands show the relative fraction of Bitcoin in existence that was last transacted within the time window indicated in the legend,” Unchained Capital’s website details. “The bottom, warmer colors (reds, oranges) represent Bitcoin transacting very recently while the top, cooler colors (greens, blues) represent Bitcoin that hasn’t transacted in a long time. Bitcoin’s money supply grew from 50 BTC to ~18.5M BTC over this time period, so the chart has been normalized by the BTC in existence at each date (left y-axis). The black line shows the USD/BTC price (logarithmically, right y-axis).”

For example, Bitcoin Archive, a notable Twitter account with 184,000 followers, posted about realized cap HODL waves and uploaded an image from Glassnode's site.

“The ‘hot money' has subsided, and we can see the first HODL wave forming nicely. “Bitcoin bull markets usually have three waves, so expect another one to begin soon,” according to Bitcoin Archive. Following the tweet, the account Cryptovizart replied, claiming that the three-wave pattern was not occurring as it had in the prior two cycles. The first wave lasted longer, according to Cryptovizart, because of institutional FOMO. 

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Colin Talks Crypto, a renowned Youtuber and proponent of digital currencies have been covering the bull run's length for quite some time.

According to the website, "The Colin Talks Crypto Bitcoin Bull Run Index (CBBI) is an indicator based on a portfolio of 8 bitcoin variables designed to give us a better picture of where we are in a Bitcoin bull run cycle." “A ‘peak confidence score' is the CBBI score. As it hits 100, it implies that we may be approaching a price peak.

To sum up, everyone has their own specific tool and technical analysis, and some are using bitcoin derivatives markets such as futures and options to forecast future prices. Some feel that BTC's Taproot upgrade will improve the price, while others believe that news like institutional adoption will keep the market afloat. Blockchain press release is the best site to publish any news about your company.

When it comes to the future price of bitcoin, there is no clear science or logic. There will never be a gadget that can precisely anticipate markets, but we can be certain that market participants will always try to anticipate the future using whatever means are available to them to gain an advantage.

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