Bitcoin Stock-to-Flow Model Could Mean $10K Price is in Sight
By Luke Flowers – Cryptocurrency Enthusiast
Ever since the crypto giant failed to stabilise above $10,000 in late October, the price has been sliding downwards as many looked to sell Bitcoin.
However, according to one pricing model and many Bitcoin analysts, it could bounce back from this downtrend as it may be on the verge of another enormous price rally with one analyst going as far to say he wouldn't be surprised if Bitcoin goes over the $10,000 mark by the end of the year. For the price to reach this level, many users would need to buy Bitcoin and increase the capital in the market.
Bitcoin is currently trading at around $7600, an increase of over 5% on the day and a huge leap from the bottom of the recent market selloff of $6650, suggesting the bulls could be back to buy Bitcoin. This bullish momentum could spark further positivity and help push the price past higher levels of resistance.
Now analysts are noting that Bitcoin's stock-to-flow model – that keeps a track of supply growth compared to what was already circulating and corresponds to the price action – indicates that Bitcoin could finish over $10,000 by the end of the year in which we could see more users buying Bitcoin.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
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