Bitcoin update price BTC flat crypto rising to worst case

Bitcoin update: price Bitcoin & Crypto rises: Quotes, whales and Plan B

Meanwhile, the US markets have closed again. We look at the live Bitcoin price and the prices of the top 25 crypto coins. Then we look at how the whales are moving and what the Dutch Bitcoin analyst Plan B foresees. Finally, we look at the Bitcoin quotes that matter now.

We start as usual with the live Bitcoin price and the prices of the top 25 crypto coins.

Live Bitcoin price and prices top 25 crypto rise

At the time of writing, the live Bitcoin price is quoting EUR 39,037.37 ($44,329.99). This is 3.87% higher than when the US markets closed last night.

The prices of the top 25 crypto coins are also rising. Apart from the stable coins, we only see price increases on the digital price board. The biggest increase is for Avalanche (AVAX), which is quoting + 13.04 %. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.

Bitcoin whales show bull indicator

One of the ways to see if the market is bearish or bullish is to follow the behavior of Bitcoin’s major owners, called whales. If they send their holdings towards the crypto exchanges (so-called inflows) this normally means that they are preparing and this is a bearish move. The same is true the other way around. If they send their money from the exchange to separate wallets (outflows) they will keep their holdings to speculate on price increases. This is seen as bullish.

The way to measure this is to follow the Exchange Net Position Change indicator. If it is negative it means that outflows are going on. If we study this statistic we see that for the third week in a row we are seeing such outflows and so this is a bullish signal. By the way, the ENPC indicator also shows movements of smaller amounts of BTC.

Moreover, there are several websites that spot the whales transactions. There we saw the transfer of $64 million in Bitcoin from crypto exchange Gemini to unknown wallets. Also today, 45,000 BTC was transferred to two unknown wallets (i.e. off the exchange). Besides the huge value (of over 2 billion), the transaction fee of $3.76 is also remarkable.

PlanB sticks to Stock2Flow model and now anticipates…

Dutch analyst Plan B initially created a furor with his Stock2Flow model last year when he made a correct price prediction based on it for several months in a row. Since he predicted a Bitcoin price of $100,000 before the end of the year, he quickly gained many followers. We now know how the year ended and with that that the S2F model is not flawless.

Nevertheless, PlanB is sticking to its S2F model. According to the latest calculations, the model now foresees the Bitcoin price to hit $100,000 before 2023.

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Both S2F and logarithmic regression point to $100K by 2023. pic.twitter.com/NHqoRpEmUl

– PlanB (@100trillionUSD) February 14, 2022

Of course he gets questions about the reliability of the calculations. Whereas last year he reacted in a rather disappointed way by saying that he did not understand why people criticized information they got for free, this year he did respond to questions in a substantive way.

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It does not concern me yet, but it certainly leads to the question: do we need to refit the model to this new lower data, or do we have to be patient and finish this cycle first because prices can be higher in the 2nd half of the cycle (bringing the average back to $100K)

– PlanB (@100trillionUSD) February 14, 2022

So in short, he sees the movements of the S2F model as cyclical between halvings. In the first half of the cycle after the 2020 halving, the market performs less than expected based on the model, and PlanB therefore expects prices to be able to rise faster than the model in the second half of the cycle, so on balance the model is still correct.

Will Bitcoin remain bullish? These quotes are important

With Bitcoin rising rapidly, the question of course is whether the BTC price remains bullish and can rise to record levels or whether we should expect a correction.

Based on this technical analysis we see that it is important for the BTC to stay above $44,000. If this happens the way is open to the resistance at $46,000 and from there a price increase of up to 40% can then be expected. If this fails we see a consolidation level between $ 42,000 and $ 44,000. If Bitcoin drops below $41,784.16 (the 50-day moving average), however, there could be a further bear correction that could push the price down to $35,000.00.

The Fibonacci analysis of the BTC is in line with this technical analysis.

Want to stay up to date with the latest price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”