Bitcoin price fell a few hundred dollars to a level of 8 thousand 900 dollars due to the Satoshi Nakamoto panic that was experienced recently. Bitcoin, which is above $ 9,200 now, aims to go above $ 9,500 again. Famous Bitcoin analyst Pysh says that Bitcoin can decline again before reaching this goal. Pointing to the recent decline in the hash rate, Pysh; he thinks that May 25th will be an active day for the crypto market. According to his estimates, Bitcoin will decline on this date, but this decline will lead Bitcoin to a maximum of 200-day moving average, and Bitcoin will not go below $ 8,000.
— Preston Pysh (@PrestonPysh) May 20, 2020 Long Term Forecast Bitcoin price was up to $ 20 thousand in December 2017. Pysh was among the investors who realized that the bull market was about to end during this period and sold his Bitcoin. Pysh, who sold at $ 18,000, then waited for the price to drop and began to accumulate BTC again.
— Preston Pysh (@PrestonPysh) May 22, 2020 Continuing to invest in Bitcoin, Pysh thinks that the price of BTC may increase several times in the long term. Based on the stock flow (S2F) model in particular, Pysh believes that Bitcoin will gain value quickly this year and next year. According to the stock flow model, Bitcoin price should reach around 100 thousand dollars by the end of next year. Even Bitcoin’s failure to reach this level may question the validity of S2F. But according to Pysh, Bitcoin will not only reach this level, it will go beyond that.
— Preston Pysh (@PrestonPysh) May 22, 2020
