Bitcoin Price Prediction: $90K Break – Dip or Rebound Next?

• Arthur Hayes has predicted that Bitcoin could fall to pre-election levels in the near future. 
• PlanB highlighted that significant price crashes were seen during the 2016-2017 bull run. 
• Investors have purchased a massive 20,400 BTC during the recent dip.

Bitcoin is trading under $90,000, marking its lowest point in a month. The cryptocurrency has fallen over 7% this week, currently hovering around $88,948. However, according to PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, these price corrections are normal in Bitcoin’s growth cycles.

In a post on X (formerly Twitter), PlanB pointed out that back in the 2016-2017 bull market (which the current market cycle is copying), Bitcoin had several price drops of more than 30% before reaching new all-time highs. The analyst backed up his claims by posting a price chart of BTC during that time.

Blockchain intelligence firm Arkham reported that BlackRock recently moved $150 million worth of Bitcoin to Coinbase Prime. These moves are outflows from the IBIT Bitcoin ETF, which suggests institutional investors might be taking profits. These large transactions can add to selling pressure.

The post Bitcoin Price Prediction: $90K Break – Dip or Rebound Next? appeared first on Coin Edition.