A new Bitcoin (BTC) breach is “inevitable” and has a bullish potential, according to the Vailshire Capital Management hedge fund.
In a tweet on January 19, Geoff Ross, the company’s founder and CEO, described the growth forecast for BTC as “extremely optimistic”.
Vailshire Capital is “evenly long” BTC
Using a host of calculations on the chain and the overall analysis, Ross highlighted the near end of the series and the consolidation of Bitcoin prices this week.
Updated Bitcoin specification … Hacking is inevitable. The direction is still undefined. Macro crawl: a bullish maniac. String Analysis: Crazy Rising, ”he wrote.
“Most likely an upward move. Short-term downturns will be buy-in. Vailshire Partners LP remains consistently long.”
His comments came as feelings about Bitcoin seemed to return to “business as usual” after the holiday, when asset management giant Grayscale made its largest single-day purchase of Bitcoin ever – around $ 700 million per Tuesday.
Difficulties with mining bitcoin and hashish. Source: Data on digital assets.
According to the Cointelegraph report, both network complexity and hash rate have reached completely new heights, and expectations are growing that the price will rise to follow suit. Ether (ETH), the largest cryptocurrency in addition to Bitcoin, reached record highs since 2018 this day.
PlanB: Everything focuses on closing
Meanwhile, Vailshire is not the only person optimistic about Bitcoin’s prospects this week. In the latest update of the Bitcoin price model between equity and flow, the PlanB analyst considered the possibility that BTC / USD will soon cross the “point of no return”.
He explains that this would happen if the closing price in January was much higher than the current spot price – say around $ 48,000 dollars.
In doing so, Bitcoin will cement its place in stock-to-power theories, including the transition to an asset with a market value of $ 29 trillion, dictated by the PlanB Stock-to-Flow Cross-Asset Model (S2FX).
“The biggest monthly jump to #bitcoin $ 48K will create a good gap between the points of the month. Usually these holes indicate no return point (red arrows), ie the transition to step # #,” …
Not everyone is convinced. In Tuesday’s update, analyst Cointelegraph Markets filbfil warned that the next few days will be crucial if Bitcoin manages to avoid downward pressure.
The reason, he says, lies in the frequent warning signals generated by his Predator trading instrument.
He explained that “Predator printed its second yellow candlestick in Bitcoin collections.”
“Finally, it can be ignored as the next light is green. Three days to resolve, or it could mean consolidation / withdrawal of the IMO for an extended period.”