Part 4/8:
The moving average, particularly the 200-week moving average, closed at $43,000, representing a four-year average price. This contextualizes the 2024 price action. The importance of the moving average is often more pronounced during bear markets when it serves as a support level or “floor” for prices. Currently, the present price of $93,000 significantly exceeds this moving average, suggesting that its relevance is diminished in a prevailing bull market.
Looking forward, the stock to flow model predicts that the moving average will move toward $500,000 by the next halving period in 2028, reflecting expectations for substantial growth over the next few years.