Bitcoin (BTC) to $200,000? Price breaks out, but volume “not big”
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Yesterday, at the beginning of the evening, Bitcoin (BTC) finally moved more clearly above the $50,000 mark. Although this was not accompanied by an explosion in the volume of trade, the development is nevertheless positive. In this article, you will find some interesting tweets from well-known analysts and others.

Bitcoin exchange flows stabilize

On-chain data analytics firm Glassnode just shared a tweet showing stock market flows. This data shows whether bitcoins are actually being withdrawn from the exchanges or whether investors are sending their bitcoins back to the exchanges. While we’ve seen a lot of recently that people are actually taking bitcoins off the exchanges (bullish), this has stabilized over the past 24 hours.

It doesn’t have to be bearish. The Bitcoin price has fallen this weekend with low volume, but in the longer term we are still in an upward trend. Perhaps after today’s price breakout, more people will withdraw Bitcoins from the exchanges again. With Ethereum (ETH), the trend continues: Almost 92 million dollars of ETH have flowed into external wallets.

Bitcoin Price Forecast

Then an interesting tweet from Feras Crypto. He shared a Bitcoin price forecast last night based on Fibonnacci retracements and the analystools of Immediate Advantage and Bitcoin Trader. In his opinion, Bitcoin can reach a peak of $200,000 on this basis, but for that BTC would have to be above $59,000 as early as the third quarter. A word of caution at this point: this is an analysis, not a prediction.

“The volume was not large, but bullish”
Finally, a tweet from Lark Davis,Bitcoin and crypto investor. He notes that the volume during yesterday’s breakout was “not great,” but that it was still a bullish breakout. “The highest closing price on the daily chart since mid-May,” according to the investor:

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