๐จ๐จ Bitcoin's Potential 90% Price Rally ๐จ๐จ
1. Puell Multiple Indicates Historical Breakout:
The Puell Multiple, a key Bitcoin mining metric, is nearing a golden cross, historically linked to significant BTC price rallies.
In the past five years, BTC/USD surged 83%, 113%, and 76% following similar crossovers in 2019, 2020, and 2024, respectively.
2. Average Price Surge of 90% Expected:
Analyzing past trends, a breakout above the 365-day moving average for the Puell Multiple suggests an average 90% BTC price increase.
3. Mining Perspective on Market Cycles:
The Puell Multiple evaluates the daily value of mined Bitcoin relative to its 365-day moving average, providing insights into miner stability and market cycles.
Historically, crossovers have marked the onset of rapid BTC price gains.
4. Supportive Macroeconomic Conditions:
Favorable macroeconomic frameworks strengthen the likelihood of a strong Bitcoin bull rally.
5. RSI Indicates Bull Market Just Starting:
The Relative Strength Index (RSI), which remains above 70 during bull markets, measured 74.4 as of Nov. 18, signaling that Bitcoinโs most intense growth phase may lie ahead.
6. Market Expectations:
Analysts predict Bitcoin could reach six figures, with its parabolic phase potentially lasting 300 days before a new macro top forms.
Speculation about retail FOMO (Fear of Missing Out) potentially leading to corrections is growing.
7. FOMO Cycle and Price Projections:
Analysts, including PlanB, foresee FOMO intensifying in early 2025 as the market's bullish phase continues to unfold.