An analyst has found two on-chain paths that would lead the digital asset to $150,000 within the next six months. Onchain Edge discovered that unrealized profits and losses are currently close to the 0.54 level, the same area that marked BTC’s price top in 2019. The Puell Multiple, a BTC valuation tool that examines Bitcoin miner profitability, has reached the 1.83 level. The metric provides data that can be used to detect when the market is in a buy or sell season.
Source: Mandy Williams, 2024-02-17; https://cryptopotato.com/these-2-scenarios-will-see-btc-head-to-150k-in-the-next-6-months-analysis/