More proof that Bitcoin is far from the most vertical stage of its bull run comes from PlanB and the relative strength index.
Bitcoin (BTC) can surge to $92,000 in the next two weeks and still “only” be matching its past performance, new data claims.
In a tweet on Wednesday, PlanB, the analyst behind the stock-to-flow family of Bitcoin price models, noted that despite this week’s gains, BTC/USD still has plenty of energy in it.
PlanB focused on Bitcoin’s relative strength index (RSI), a classic metric used to chart the progress of price runs in particular.
RSI can give a useful insight into whether Bitcoin is overbought at a certain point in its bull run, while the opposite — oversold — is also true.
As Cointelegraph reported, PlanB has highlighted the metric’s cues for hodlers throughout the past year, including during the Spring bear market bottom and in August, when sentiment was gearing up for the bull run that continues to this day.
Currently, RSI measures 92/100.