Bitcoin
BTC$19 083.51

-1.06%

Ethereum
ETH$1 281.89

-2.22%

Tether
USDT$1.000050

0%

USD Coin
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0.01%

Binance Coin
BNB$285.57

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XRP$0.453299

-4.55%

Large pump coming to Bitcoin, hints BTC price metric


06 Oct 2021

#Bitcoin

Stochastic RSI all but copies moves that sparked 2013’s all-time highs, but hodlers may be kept waiting until the very last minute this year. Bitcoin (BTC) should see a “large” price increase thanks to a rare bullish phenomenon that has just hit for the first time in seven years. In his latest update on Bitcoin’s relative strength index (RSI), popular Twitter analyst TechDev flagged major similarities between this year and the 2013 BTC bull run.

Stochastic RSI sees “especially bullish cross”

As Bitcoin heads higher, RSI has rapidly increased and is currently cooling from “overbought” territory suggestive of a temporary — even if modest — price pullback. Zooming out, however, stochastic RSI is in the midst of repeating its moves from 2013, which preceded Bitcoin’s run to what were then all-time highs of around $1,300. For comparison, BTC/USD began that year at $13. Stochastic RSI measures the relative strength and weakness of the RSI indicator itself.

“Bitcoin had its 2nd bullish monthly stoch RSI cross between 20 and 80 this cycle. An especially bullish cross. Sep 2021 and May 2020,” TechDev commented alongside a chart showing the action. “This cross only happened two other times in history. You guessed it. Sep 2013 and May 2012. Large pumps followed all 3 previous crosses.”

All quiet ’til December?

As impressive as that may sound, Bitcoin bulls may have to wait a little longer for the ultimate push to the peak to hit. This is also thanks to historical BTC price data, which analyst Rekt Capital says shows new all-time highs coming in December, rather than “Uptober.” What’s more, November may even see a retracement back to current price levels of just above $50,000.

Such a seemingly conservative prediction nonetheless does not conflict with other popular models, notably the “worst-case scenario” monthly close series from stock-to-flow model creator PlanB.

The forecasts demand $63,000 for October, $98,000 for November and at least $135,000 for the December monthly close. The numbers for August and September — $47,000 and $43,000, respectively — were exactly on point.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 87.6% 20 $19 083.51 -1.06% 1.40% $365 781 815 743 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.8% 83 $1 281.89 -2.22% -1.23% $157 194 265 600 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.2% 1 $1.000050 0% 0% $67 952 795 097 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000020 0.01% 0% $47 326 491 868 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 14 $285.57 1.14% 4.15% $46 073 556 698 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 57.2% 86 $0.453299 -4.55% -8.26% $22 619 945 926 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $1.000118 0.11% 0.06% $21 044 705 794 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 78% 41 $0.422139 -2.00% -5.32% $14 459 594 259 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 80.4% 27 $32.15 -1.56% -0.56% $11 427 909 285 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 95.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 90.4% 14 $0.059515 -1.94% -2.79% $7 895 849 620 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 63.2% 71 $6.19 -1.35% -0.33% $6 947 808 682 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92.4% 1 $0.999786 0.03% 0.03% $6 830 875 509 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 70.8% 64 $0.767118 -0.22% 4.02% $6 700 252 529 MATIC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92% 5 $0.060883 0.66% 2.30% $6 190 317 836 WTRX 7 days price change

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