Hi, Traders ! **Monfex** is on the air !

**While** [**Bitcoin** ](https://www.tradingview.com/symbols/BTCUSD/)**demonstrates a short-term weakness, the talks around the next halvening are not tailing away.**


\* Based on the analysis of Bitcoin’s prominent investor and analyst Tuur Demeester, Bitcoin market would require $2.9 billion of investment influx to keep the price above $8,000 ahead of the next halving.

\* This amount of investment is required to compensate the deflationary effect of the new Bitcoins mined out. Even if the investment inflow remains unchanged, a lower selling pressure after the halving would eventually result in a price boost.

\* In the meanwhile, famous trader Plan B has used the stock-to-flow (S2F) ratio to predict Bitcoin’s price of around $60,000 following the next halving.

\* Technically, Bitcoin is gradually descending to the broken verge of the wedge . The decline might prevail in the short-run, but the price should not instantly drop lower than $8,300.

\* 200 Daily EMA is still above 21 Daily EMA, meaning that the uptrend is intact.

**Active trade signal**

Buy @ $8,300 – $8,700.
Short-term Target: $10,500.
Mid-term Target: $12,000.
Long-term Target: $13,500.


*This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.*

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