Plunge

Rally

Bitcoin

when

Coin

<ul class="news-points"> 
 <li><strong>The analyst noted that a decrease in the supply in loss could trigger a rise to $150,000.</strong></li> 
 <li><strong>Bitcoin might undergo a corrective phase if bulls fail to defend $49,850</strong></li> 
 <li><strong>A clear path to $60,000 might appear if the 50 EMA stays above the 200 EMA.</strong></li> 
</ul> 
<p>Pseudonymous on-chain analyst and CryptoQuant author “OnChain Edge” has predicted that <a href="https://coinedition.com/bitcoin-next-stop-55400-analysts-share-bullish-predictions/">Bitcoin (BTC)</a> would hit $150,000. According to OnChain Edge, he used two different methods to check the possibility and both of them gave the same result.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> has two Paths. Both Lead to $150k<br><br>“I spent over 100 hours diving through on-chain data to find out. Here's what I found…” –&nbsp;By <a href="https://twitter.com/onchain_edge?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@onchain_edge</a> <br><br>Full post <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/MZZS2f0iQD" target="_blank" rel="nofollow">https://t.co/MZZS2f0iQD</a> <a href="https://t.co/UZBXneAtIt" target="_blank" rel="nofollow">pic.twitter.com/UZBXneAtIt</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1758168747334869171?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">February 15, 2024</a>
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</figure> 
<h2 class="wp-block-heading" id="h-btc-to-plunge-before-the-rally"><strong>BTC to Plunge Before the Rally</strong></h2> 
<p>In both scenarios, the analyst considered the Net Unrealized Profit/Loss (NUPL). Values over zero of the NUPL suggest that most holders are in profit and there could be a motive to drive sell pressure.</p> 
<p>On the other hand, when the NUPL is less than zero, it implies that most participants are at a loss, indicating low sell pressure. OnChain Edge’s first scenario was that the sup…</p>
<p>The post <a href="https://coinedition.com/can-bitcoin-reach-150000-analyst-dives-in/">Can Bitcoin Reach $150,000? Analyst Dives In</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Can Bitcoin Reach $150,000? Analyst Dives In

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