Bitcoin rate with a new record: $ 100,000 in may?

After a bullish weekend, investors are taking advantage of the new Bitcoin all-time high for profit-taking. While there is evidence to suggest that the end of the flag pole has not yet been reached. The Market Update.

A brilliant weekend, the Bitcoin has climbed stand-rate to a new record. To 61.170 US dollars in the crypto-currency rose on Saturday, the 13th. March. Thus, the Bitcoin has rate since the Corona-Crash a year ago, more than 1,000 percent. Reason enough for the a – or other profit-taking: To the editorial deadline Bitcoin with 58.681 dollars back just below the recently conquered the 60,000 mark.

Bitcoin rate over the course of weeks. Source: BTC-ECHO

As is so often the Altcoins from Bitcoin could rally carried away, and print – at least in the week-over-week – also largely green candles. Within the Top 50 Coins by market capitalization, especially Chiliz (CHZ) Hedera Hashgraph (HBAR) and Enjin (ENJ) with a strong win in the triple-digit percentage range can come up in the process. Chiliz (400 percent) and Enjin (95 percent) benefit from the growing Hype around Non-fungible Token; a sector, the two projects have specialized in.

After record high, with Almost All Bitcoin investors in Plus

The strong development of the Bitcoin price has ensured that you are currently virtually every Bitcoin Holder is in Plus. 99,36% of all Bitcoin units (Unspent Transaction output, UTXO) are more valuable than at the time of their creation. The Blockchain data of the analysts of Glassnode.

A Long-pays Position of Bitcoin, not only underscores the UTXO analysis of Glassnode. A look at the data from Datamish suggests that fewer and fewer traders take a Short Position and a falling Bitcoin price speculate.

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The ratio of the Long and Short positions in the course of the year. Source: Datamish

A year ago, the share of Short positions in the Margin-Trading was Bitcoin in about one-third. This proportion is decreased in the course of the year to below six percent.

The conquest of the recent all-time highs has plucked some of the bears the coat: Alone on the Bitcoin derivatives exchange Bitmex were liquidated on Saturday Short positions in the amount of 75 million dollars.

Liquidations on Bitmex in the last 14 days. Source: Datamish

Bitcoin course follows the Stock-to-Flow forecast

With its continued bullish price development of Bitcoin in the context of the Stock-to-Flow model (S2F) projected price range. For the first time by the Dutch crypto analyst PlanB on Bitcoin method has so far proved to be amazingly accurate metric for the modeling of the Bitcoin exchange rate. Specifically, PlanB has detected a putative connection between the Stock-to-Flow ratio of Bitcoin, the Bitcoin Halvings and the Bitcoin exchange rate.

The Bitcoin should follow the course more the-not entirely uncontroversial – model, Bitcoin bulls have every reason to be chomping at the bit. Because that would mean that the price of Bitcoin will rise this year to $ 100,000. Already in may, it could be as far.

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