NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin RSI Could Rally Into Halving, Pushing BTC To $8,000 By Mid-2020

Nick Chong
Nick Chong
1 year ago
2 mins read
bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As Bitcoin moves ever closer to its block reward reduction, analysts are becoming more and more convinced that BTC will rally into the quadrennial event. One analyst notes that as this market nears the auspicious shift in issuance, the cryptocurrency could double by value, especially considering historical trends.

Related Reading: Analysts Widely Bearish on Bitcoin as BTC Nears Important 4,000 Price Level

Bitcoin Could Reach $8,000 By Halving

PlanB, as the respected analyst is known, claims that at long last, the one-month Relative Strength Index (RSI) measure has begun to trend higher. He adds that historically, in months when Bitcoin’s issuance schedule moves, RSI reaches 70, which implies the asset is overbought.

#bitcoin monthly RSI is rising. Historically RSI has been around 70 at halvings (blue->red), 14 months to get there … pic.twitter.com/GkFqDrKIRq

— PlanB (@100trillionUSD) March 10, 2019

Thus, extrapolating potential price action by taking historical trends into account, PlanB noted that by May 2020, BTC could reach a hefty valuation of $8,000 to $10,000 — double and 2.5 times Bitcoin’s current market value respectively. The following is his RSI extrapolation model:

“I derive RSI (basically a moving average) from projected price, and goal seeked BTC to get RSI 70 in May 2020 (I think it was +6% every month next 14 months from current price of $3900).”

PlanB isn’t the first to have claimed that BTC may break $8,000 at the time of the halving. Prominent analyst Filb Filb noted that for the continued stability of the mining ecosystem, specifically in regards to the dichotomy between transaction fees and block rewards, Bitcoin should reach $7,000 a piece, considering margins in this subindustry stay stable.

BTC Unlikely To Fall Under $2,000

PlanB’s most recent comments in regards to the Bitcoin price comes after he overtly proclaimed that the asset is unlikely to fall under $2,000, citing historical trends and fundamentals factors. Per previous reports from NewsBTC, the prominent researcher noted that the fact that Bitcoin miners have already capitulated, indicated by the fleeting 25% collapse in network difficulty during November’s strong downturn, should signal some semblance of a bottom.

Historical trends would confirm this. The last two times a large group of miners surrendered to bears, BTC began moving higher in the months that followed, as hashrate eventually returned in full force.

Uncertainty About Bitcoin Is Gone, BTC Falling To $1,000 Unlikely: Researcher

The analyst also drew attention to the impending block reward reduction — dubbed a “halving” or “halvening” — to explain that BTC falling lower wouldn’t be cohesive with historical trends, as the cryptocurrency rallied into previous issuance shifts. PlanB added that Bitcoin has never fallen below its geometric mean, situated at $2,750 at current, and may never will as long as current price levels are upheld. By the same token, he noted that Bitcoin has never fallen below 50% of its stock-to-flow (issuance to supply in existence ratio) model, which currently places BTC at a fair value of $5,500.

While PlanB is making a solid argument for BTC to return to higher levels, some are fearful that the cryptocurrency won’t. Will the bulls or bears come out on top this time?

Featured Image from Shutterstock
Tweet123Share284ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

스네이키웨이($AKE), AI 매수·인플루언서 제휴·블록체인 게임 앞세워 프리세일 개시

스네이키웨이($AKE), AI 매수·인플루언서 제휴·블록체인 게임 앞세워 프리세일 개시

전 세계적으로 블록체인 기술과 디지털 자산에 대한 관심이 높아지면서 암호화폐 시장은 지금 이 순간에도 빠르게 진화하고 있다. 실용성 중심이든 밈 기반이든 투자자의 이목을 끌기 위한...

Soyeon Lee 2 hours ago

TOKEN6900強勢吸金:1周融資破20萬美元 無視市場邏輯再掀迷因熱潮

TOKEN6900 (T6900)對所有所謂的“基本面”嗤之以鼻,用行動證明它不靠基本面也能贏 —— 上線僅一周便籌集超20萬美元。 這款全新迷因幣根本不在乎新聞怎麼說,也不在乎圖表怎麼走。它唯一的信...

estherw 3 hours ago
Bitcoin

Bitcoin In For Another 460% Run? This Rare Fiat Signal Just Returned

The Global Money Supply has just hit a rare yearly growth rate of 9%. Here’s what followed for Bitcoin the...

Keshav Verma 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Samuel Edyme 26 minutes ago
xrp price xrpusdt

XRP Price Brewing A Monster Rally? This Patter Might Hold The Key

James Halver 1 hour ago
Bitcoin Price Retreats

Bitcoin Price Stalls Below $110K — Another Rejection for Bulls

Aayush Jindal 2 hours ago

Premium Sponsors

Press Releases

  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    7 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    7 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    10 hours ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    10 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.