One of the biggest names in the cryptocurrency industry says Bitcoin (BTC) buyers should take advantage of the opportunity to add to their stack for under $40,000.
in post On November 24th, PlanB, creator of the Stock-to-Flow suite of BTC pricing models on
PlanB: Time is ticking against $40,000 resistance
PlanB believes that Bitcoin will rise significantly higher than its recent 18-month highs and that the time to increase BTC exposure below $40,000 is approaching.
PlanB, known for its bullish view on long-term BTC price growth, used realized price data to support its bull argument.
The realized price is Bitcoin’s realized limit (the total price all BTC last moved at) divided by the current supply. The current price is just under $21,000.
A Bitcoin bear market bottom is characterized by the spot price falling below the realized price, while a bull market begins when the spot crosses the 2-year and 5-month realized price levels. This represents the realized price of coins that last moved within the last two years or within the last five months, i.e. “younger” coins.
BTC/USD is now once again above all three realized price iterations.
“Enjoy Bitcoin under $40,000… while it lasts,” PlanB said in the attached chart.
When asked whether the market should expect lower levels from here, no PlanB has been drawn, he simply said. predicted Average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin’s next halving cycle.
Bitcoin holders bet six figures.
While you have a plan B He raised criticism of stocks versus flows and acknowledged that Bitcoin did not live up to his expectations during the 2021 bull market. Six-figure predictions for the next cycle are becoming increasingly common.
Related: Bitcoin to $1 Million After ETF Approval? BTC price predictions are wildly mixed
As Cointelegraph reported, they are consolidating around a $130,000 area, targeting the end of 2025.
Meanwhile, the halving itself, scheduled for April 2024, will generate about $46,000 in revenue, according to further analysis.
Earlier this month, PlanB explained that Bitcoin is in a “pre-bull market” phase and that an actual launch has not yet occurred.
IMO Bitcoin is currently in a pre-bull market (yellow) and heading towards a full-fledged bull market (red, after halving, barring early ETF approvals).
Note: Changed the colors and stage names again to better match the S2F model.
bull ex
bull market
bear in advance
bear market pic.twitter.com/tmayjteVWv— Plan B (@100trillionUSD) November 19, 2023
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.