{"id":643567,"date":"2024-09-21T01:30:35","date_gmt":"2024-09-21T01:30:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=643567"},"modified":"2024-09-20T22:04:46","modified_gmt":"2024-09-20T22:04:46","slug":"bitcoin-approaches-65000-is-now-the-perfect-time-to-buy","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-approaches-65000-is-now-the-perfect-time-to-buy\/","title":{"rendered":"Bitcoin Approaches $65,000: Is Now The Perfect Time To Buy?"},"content":{"rendered":"

As Bitcoin price valuation inches closer to the $65,000 mark, the asset has grabbed the attention of market analysts, with one recently highlighting a key indicator that now suggests a potential further recovery in BTC’s price.<\/p>\n

Particularly, according to a recent post<\/a> on the CryptoQuant Quicktake platform by an analyst under the pseudonym \u2018Darkfost,\u2019 the Bitcoin Stock-to-Flow (S2F) reversion chart is now showing a major buy signal for Bitcoin.<\/p>\n

Related Reading: Will Bitcoin Break Through $70k? Short-Term Holders\u2019 Buy Price Holds The Key<\/a><\/div>\n

S2F Signal Prime Buy Opportunity<\/h2>\n

The S2F model is widely used to forecast Bitcoin’s price by measuring its scarcity. It indicates whether the market is leaning towards a buy or sell zone based on its supply rate.<\/p>\n

Darkfost explained that the S2F reversion chart is now signalling a potential buying opportunity<\/a>, with the SF ratio dipping below 1, which represents a green zone.<\/p>\n

\"Bitcoin
Bitcoin S2F reversion chart. | Source: CryptoQuant<\/figcaption><\/figure>\n

This zone suggests that Bitcoin may be undervalued compared to its historical trend, making it a potential time to accumulate BTC.<\/p>\n

The analyst elaborated that the last time Bitcoin entered this buy zone was in June and September of 2023, followed by notable price recoveries<\/a>.<\/p>\n

Investors who had taken positions during these periods saw favorable returns as Bitcoin’s price rallied in the following months.<\/p>\n

Notably, the S2F model’s predictive nature has often been a major tool for traders looking to capitalize on long-term Bitcoin trends. Asides its movement below 1, when the SF ratio climbs above 1, it signals a red zone, or profit-taking opportunity.<\/p>\n

Bitcoin Price Action And Key Technical Levels<\/h2>\n

In addition to the S2F signal, Bitcoin\u2019s price action in the past few days has also resulted from recent macroeconomic events, particularly the US Federal Reserve\u2019s interest rate cut<\/a>.<\/p>\n

Following the rate reduction by 50 basis points on Wednesday, Bitcoin surged past $64,000<\/a> in the early hours of today, marking a significant rally given the asset has been in a bearish and accumulation phase prior.<\/p>\n

However, as of now, the cryptocurrency has retraced slightly from its 24-hour high above $64,000 and is trading at $63,036, down by a mere 0.1% over the past day.<\/p>\n

\"Bitcoin
BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on TradingView.com<\/figcaption><\/figure>\n

Meanwhile, despite the S2F reversion chart pointing to a potential buying opportunity, another crypto analyst, Ali, has raised concerns about Bitcoin\u2019s near-term future.<\/p>\n

Related Reading: Bitcoin Reclaims $63,000 After US Fed Rate Cut, But Is This Rally For Real?<\/a><\/div>\n

In a recent post<\/a> on X, Ali highlighted Bitcoin\u2019s current position relative to its 200-day Simple Moving Average (SMA), a critical indicator for determining the strength of a market trend. Bitcoin is currently testing this level, which historically has been an essential factor in confirming a bull run.<\/p>\n

\"Bitcoin
Historical price chart of Bitcoin testing the 200-day SMA. | Source: Ali on X<\/figcaption><\/figure>\n

Ali noted that previous failures to reclaim the 200-day SMA, as seen in 2020, 2018, and 2014, led to significant price corrections. If Bitcoin fails to hold above this level in the coming days, it could signal a broader market downturn.<\/p>\n

However, if it maintains support, Bitcoin could continue its upward trajectory, setting the stage for further gains<\/a>.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

As Bitcoin price valuation inches closer to the $65,000 mark, the asset has grabbed the attention of market analysts, with one recently highlighting a key indicator that now suggests a potential further recovery in BTC’s price. Particularly, according to a recent post on the CryptoQuant Quicktake platform by an analyst under the pseudonym \u2018Darkfost,\u2019 the Bitcoin Stock-to-Flow (S2F) reversion chart is now showing a major buy signal for Bitcoin. Related Reading: Will Bitcoin Break Through $70k? Short-Term Holders\u2019 Buy Price Holds The Key S2F Signal Prime Buy Opportunity The S2F model is widely used to forecast Bitcoin’s price by measuring its scarcity. It indicates whether the market is leaning towards a buy or sell zone based on its supply rate. Darkfost explained that the S2F reversion chart is now signalling a potential buying opportunity, with the SF ratio dipping below 1, which represents a green zone. This zone suggests that Bitcoin may be undervalued compared to its historical trend, making it a potential time to accumulate BTC. The analyst elaborated that the last time Bitcoin entered this buy zone was in June and September of 2023, followed by notable price recoveries. Investors who had taken positions during these periods saw favorable returns as Bitcoin’s price rallied in the following months. Notably, the S2F model’s predictive nature has often been a major tool for traders looking to capitalize on long-term Bitcoin trends. Asides its movement below 1, when the SF ratio climbs above 1, it signals a red zone, or profit-taking opportunity. Bitcoin Price Action And Key Technical Levels In addition to the S2F signal, Bitcoin\u2019s price action in the past few days has also resulted from recent macroeconomic events, particularly the US Federal Reserve\u2019s interest rate cut. Following the rate reduction by 50 basis points on Wednesday, Bitcoin surged past $64,000 in the early hours of today, marking a significant rally given the asset has been in a bearish and accumulation phase prior. However, as of now, the cryptocurrency has retraced slightly from its 24-hour high above $64,000 and is trading at $63,036, down by a mere 0.1% over the past day. Meanwhile, despite the S2F reversion chart pointing to a potential buying opportunity, another crypto analyst, Ali, has raised concerns about Bitcoin\u2019s near-term future. Related Reading: Bitcoin Reclaims $63,000 After US Fed Rate Cut, But Is This Rally For Real? In a recent post on X, Ali highlighted Bitcoin\u2019s current position relative to its 200-day Simple Moving Average (SMA), a critical indicator for determining the strength of a market trend. Bitcoin is currently testing this level, which historically has been an essential factor in confirming a bull run. Ali noted that previous failures to reclaim the 200-day SMA, as seen in 2020, 2018, and 2014, led to significant price corrections. If Bitcoin fails to hold above this level in the coming days, it could signal a broader market downturn. However, if it maintains support, Bitcoin could continue its upward trajectory, setting the stage for further gains. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":643575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[93072,441,629,1119,78790,6664,10923,83531],"class_list":["post-643567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-abitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\nBitcoin Approaches $65,000: Is Now The Perfect Time To Buy?<\/title>\n<meta name=\"description\" content=\"As Bitcoin price valuation inches closer to the $65,000 mark, the asset has grabbed the attention of market analysts, with one recently...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Approaches $65,000: Is Now The Perfect Time To Buy?","url":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-approaches-65000-is-now-the-perfect-time-to-buy\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-approaches-65000-is-now-the-perfect-time-to-buy\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-20-16.21.28-A-digital-illustration-depicting-Bitcoin-approaching-the-65000-mark-with-the-focus-on-whether-now-is-the-perfect-time-to-buy.-The-image-features-th.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-20-16.21.28-A-digital-illustration-depicting-Bitcoin-approaching-the-65000-mark-with-the-focus-on-whether-now-is-the-perfect-time-to-buy.-The-image-features-th.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["abitcoin","bitcoin analysis","bitcoin market","btc","btcusdt","crypto","crypto market","cryptoquant"],"dateCreated":"2024-09-21T01:30:35Z","datePublished":"2024-09-21T01:30:35Z","dateModified":"2024-09-21T01:30:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Approaches $65,000: Is Now The Perfect Time To Buy?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-approaches-65000-is-now-the-perfect-time-to-buy\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-approaches-65000-is-now-the-perfect-time-to-buy\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-20-16.21.28-A-digital-illustration-depicting-Bitcoin-approaching-the-65000-mark-with-the-focus-on-whether-now-is-the-perfect-time-to-buy.-The-image-features-th.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-20-16.21.28-A-digital-illustration-depicting-Bitcoin-approaching-the-65000-mark-with-the-focus-on-whether-now-is-the-perfect-time-to-buy.-The-image-features-th.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"abitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"btc\",\"btcusdt\",\"crypto\",\"crypto market\",\"cryptoquant\"],\"dateCreated\":\"2024-09-21T01:30:35Z\",\"datePublished\":\"2024-09-21T01:30:35Z\",\"dateModified\":\"2024-09-21T01:30:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-20-16.21.28-A-digital-illustration-depicting-Bitcoin-approaching-the-65000-mark-with-the-focus-on-whether-now-is-the-perfect-time-to-buy.-The-image-features-th.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/643567"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=643567"}],"version-history":[{"count":2,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/643567\/revisions"}],"predecessor-version":[{"id":643615,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/643567\/revisions\/643615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/643575"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=643567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=643567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=643567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}