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Bitcoin price returns to 3-day highs .....| |

22-Jun-2022 By: Rohit Tripathi
Bitcoin price return

Bitcoin price returns to 3-day highs.

Data shown by Coingabbar suggests that at least some people were buying the fall below $20,000, while PlanB faces new criticism of his stock-to-flow BTC pricing predictions.

Bitcoin (BTC) remained unchanged at the Wall Street start on June 20, as wary investors awaited a short-term trend decision.

BTC/USD has climbed to just under $21,000 at the time of writing, a three-day high, according to Coingabbar data.

With a fall to $17,600, Bitcoin's lowest levels since November 2020, the weekend terrified the bulk of the market and liquidated speculators.

However, when Bitcoin dropped underneath the all-time high set during the last halving cycle, pressure on and critics of famous stock-to-flow (S2F) BTC pricing models rose.

While market analyst Zack Voell said S2F a "scam" on social media, its developer, quant analyst PlanB, insisted that the principle underlying it was sound. On June 18, he stated on Twitter, "Most indicators (S2F, RSI, 200WMA, Realised, and so on) are reaching extreme levels."

Bitcoin's relative strength indicator, or RSI, was at its lowest point in history over the weekend, according to PlanB. RSI, a conventional overbought vs. oversold indicator, effectively implies that BTC/USD is trading far lower than its fundamentals warrant based on historical context.

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