With things going greener-ish, are we in for a crypto market rebound? Here are some positive signs that potentially point to a market uptick. Covered: Crypto Market Up, Albeit Slightly Whales Buying The Dip PlanB Hoping To Get It Right This Time Crypto Market Up, Albeit Slightly The market is up, albeit it’s only up, […] The post Crypto Market Rebound: Positive Signs Coming From Retail, Whales, And PlanB appeared first on CryptosRus.

Crypto Market Rebound: Positive Signs Coming From Retail, Whales, And PlanB

With things going greener-ish, are we in for a crypto market rebound? Here are some positive signs that potentially point to a market uptick.

Covered:

  • Crypto Market Up, Albeit Slightly
  • Whales Buying The Dip
  • PlanB Hoping To Get It Right This Time

Crypto Market Up, Albeit Slightly

Credit: CoinMarketCap.com

The market is up, albeit it’s only up, as of press time, a whopping 1.3%. That might not seem like much, but it’s a good start — especially, considering the chart above.

Just seven days ago, the global market cap hit a low of $1.55 trillion USD. And last Monday the 24th, the market fell even lower to 1.5 trillion. For reference, that was the worst day the market had since July 27th, pre-fall recovery.

The market has since recovered and currently is sitting in the 1.7 trillion level. Though, on Wednesday, before the FOMC rate announcement, the market cap also stood in the 1.7 range. It’s a positive sign that, after a brief dip down to the 1.6 level, the market was able to get back to the “buy the rumor” levels by Saturday. In particular, it demonstrates a potential bottom and consolidation forming.

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Crypto Market: Whales Buying The Dip

It appears that some money is flowing back into the market slowly, but surely. Which makes sense. There is some clarity (until at least March) on interest rates, and expirations are almost done (a small set on Monday). Overall, things are looking up.

Despite the positive signs, Bitcoin, though, is up less than 1% in the last 24 hours. Though, it appears some whales aren’t wasting any time. And, by whales, I don’t mean the “29 bitcoins” Dave Portnoy bought. 

PlanB: Don’t Call It A Comeback

Another great sign that sentiment is trending positive: PlanB is back. After taking a huge L (or multiple Ls, depending how generous your curve is), the analyst famous for his Stock-To- Flow Bitcoin model is back again, this time with a bold prediction for 2022.

In the chart above, PlanB combines his “famed” S2F model with logarithmic regression & RSI, and finds Bitcoin price is tracking better with log regression. However, the Bitcoin analyst still believes in himself: “My money is still on S2F. 2022 will be very exciting!” By exciting, according to his chart, Bitcoin is expected to reach 100k during this year.

How much “stock” you want to put into a PlanB price prediction is between you and your risk tolerance. After all, none of what he predicted came true in 2021. But it could be argued the very fact that he’s willing to put himself out there again is a good sign that sentiment is shifting positive.

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