The price of Bitcoin has been suffering as of late, but now a rebound is seemingly occurring, according to some projections.
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May was a dark month for the world of cryptocurrency as many, if not all coins, plunged in value after Bitcoin saw a considerable correction in price. Now, reports are indicating that the dip in price has come to an end as researchers are pointing towards spent output profit ratio (SOPR) and stock-to-flow deviation as evidence.
PlanB, the creator of stock-flow-deviation, has said it would be a “surprise” if Bitcoin didn’t recorrect to the stock-flow-deviation line. Here’s what was stated, “So we may well see price make its way back up to the stock to flow line in the coming months. This would mean new all-time highs for $BTC before the end of this year, as the Stock to Flow line is currently sitting at $85,000.” If you are interested in reading more about this story, check out this link here.