The Start of the Bitcoin Bull Market: A Look at the Controversial S2F Model

According to the pseudonymous quantitative analyst PlanB, who is also the creator of the controversial stock-to-flow (S2F) model, the Bitcoin bull market officially began on March 1. This prediction comes as the cryptocurrency breached $60,000 for the first time in over two years, marking the end of the accumulation phase and easy buying opportunities.

The S2F model, which gained popularity during the 2021 bull run, has been criticized for its imperfections as a Bitcoin price oracle. Despite its prediction of Bitcoin reaching $100,000 in early August 2021, when it was actually trading at around $44,000, it remains a popular tool for investors. However, Ethereum co-founder Vitalik Buterin has warned against relying on it, stating that it gives a false sense of certainty.

As the crypto market continues to evolve, it is important for investors to stay up-to-date and informed. With the rise of web 3.0 and the latest developments in the European crypto market, it is crucial to keep a close eye on the latest news and predictions. From the latest crypto market movements to predictions for popular cryptocurrencies like shiba inu, staying informed is key to success in this ever-changing industry.

Analyst Predictions and Growing Interest in Bitcoin

Many analysts, including Vetle Lunde from K33 Research, share PlanB’s expectations for Bitcoin’s performance after the halving. Lunde believes that while Bitcoin may consolidate in the immediate aftermath of the halving, it will see a rally in the following months.

In addition to the highly anticipated halving, the recent approval of spot Bitcoin exchange-traded funds (ETFs) has also contributed to the increasing interest in Bitcoin and its subsequent price appreciation.

Despite a 3% correction following Grayscale’s conversion of their Bitcoin Trust ETF, which sold $598.9 million worth of BTC on Feb. 29, Bitcoin’s price has still risen over 22% in the past week according to CoinMarketCap data.

The Impact of New ETFs on the Crypto Market

Excluding Grayscale’s ETF, the nine new spot Bitcoin ETFs have seen a combined daily volume of over $2 billion for two consecutive days as of Feb. 28. These new ETFs have accounted for 75% of new Bitcoin investments since their launch on Jan. 11, according to a report by CryptoQuant.

According to a recent research report by Bitfinex Analysts, shared with Cointelegraph, the introduction of passive and price-agnostic demand through ETFs has brought about a significant change in the history of Bitcoin. This development is expected to lead to new all-time highs before the end of 2024. With the emergence of web 3.0, the crypto market has seen a surge in interest, including from prominent figures like Mark Cuban. Keeping up with the latest news and developments in the European crypto market is crucial for those looking to stay ahead in the industry. As we look towards the future, crypto predictions for 2023, such as those for Shiba Inu, continue to generate buzz and speculation.

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