The first red dot in S2FX chart signals the start of Bitcoin phase 5 cycle. This first red dot always appears to denote 1st month after halving. Do you think this is the start of new bull market in cryptocurrency?
One of the most popular chart in Bitcoin price analysis is Stock-to-Flow (S2F). Recently the author of S2F, Plan B, updated the analysis in S2FX. Another interesting thing with these red dots is the 2nd red dot is never below first red dot, which means monthly price of bitcoin in June 2020 will be never be below the price of May 2020, if it holds true again.
According to cryptototal, the total market cap of cryptocurrencies also broke the multi-year consolidation phase with June 2020.
Analysis the current situation of US and whole world, we all are impacted severely by COVID19. Governments are bailing out big companies and printing unlimited money. Possibility of hyperinflation and recession in traditional markets seem high. Unemployment is shooting the sky. Furthermore, people are protesting in many cities of US, UK and other countries against the cruel murder of George Floyd by Minnesota Police Department. Bitcoin is made as monetary solution for all these situations. Are all these events tied together to make Bitcoin’s mainstream adoption a reality?