With the majority of assets in the cryptocurrency sector slowing down their gains, including the market’s representative, Bitcoin (BTC), the situation may soon change, particularly as Bitcoin miner revenue recovers, according to the observations of a renowned crypto trading expert.
Specifically, the historical trends show that Bitcoin miner revenue tends to recover in two to five months after the halving, and after that, the price of Bitcoin “goes vertical” as the crypto analyst and creator of the stock-to-flow (S2F) model in predicting Bitcoin’s price, PlanB pointed out in an X post on May 14.
Bitcoin miner revenue over time. Source: PlanB
Indeed, monthly Bitcoin miner revenue has consistently grown over time and has recorded peaks in the months following the halving event, coinciding with a high relative strength index (RSI), which has tended to increase alongside revenue and then drop to below 70 as it consolidates – generally a bullish sign.
Bitcoin price 7-day chart. Source: Finbold
All things considered, experts’ opinions and historical trends are all working in Bitcoin’s favor, and its price might, indeed, follow this set path. However, the situation in the crypto industry can sometimes take a surprising turn, so doing one’s own research is critical when investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
