Bitcoin profitability is in the green zone

Recently, the flagship cryptocurrency returned to the green zone of profitability, as described by an anonymous PlanB analyst, known for creating the Stock-to-Flow model. In the context of this situation, it is worth thinking again about the question of where Bitcoin will go, since the possibility of its fall still cannot be ruled out and the cryptocurrency market is known for its high volatility and unpredictable events.

The realized rate of return reflects the actual profit that investors received from owning a particular asset. According to what Woo Charts shows, BTC is currently averaging $19,785, and on January 13, with the combined efforts of the community, the cryptocurrency was able to rise above this level and hold for some time.

Experts agree that the next level that the main digital asset can reach is $24,685. Analysts have found that this mark is on the 200-week MA, which can primarily be regarded as an indicator that a downtrend day has been reached. In other words, if BTC can get to $24,685, then we can think that we have entered a new Bitcoin cycle and the uptrend has already begun.

In one of the earlier materials, we already talked about the fact that the market mood changed from fear to neutral. Now, in the context of analyzing the current situation of the flagship cryptocurrency, it is worth mentioning this indicator once again.

If a month ago the market showed a high level of fear and the index was less than 30 points, and a few days earlier the index was equal to 52 points and was assessed as neutral, now the situation has changed.

Today we see that the indicator of fear and greed in the cryptocurrency market shows 55 points, which has already leaned towards greed. If the market is in a state of extreme greed, then this means that it is a great time to take profits. However, right now, bitcoin seems to have just begun its ascent. It is noteworthy that the last time the market showed greed in March last year.

As we can see now, Bitcoin is in a sideways movement. This may be a pause before continuing growth. As we said earlier, the next big target for the cryptocurrency is $24,400. If market participants manage to get to this indicator and break through the level, then BTC will soon be able to see $30,000. Experts from the world of cryptocurrencies are unanimous in the opinion that between the $25,000 and $30,000 thresholds, BTC has no big obstacles.