bitcoin (btc) buyers should relish the opportunity to grow their stack below $40,000, says one of the crypto industry’s best-known names.
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PlanB: Time is ticking on the $40,000 resistance
bitcoin is set to rise much higher than its recent 18-month highs, PlanB believes, and the clock is ticking to increase btc exposure below $40,000.
Known for its optimistic views on long-term btc price growth, PlanB used realized price data to support the bulls’ case.
The realized price is the realized limit of bitcoin (the sum of the total price at which all btc last moved) divided by the current supply. It is currently just under $21,000.
bitcoin bear market lows are characterized by the spot price falling below the realized price, while bull markets begin once the spot price crosses the two-year and five-month realized price levels. These refer to the realized price of coins that last moved in the last two years or the last five months – “younger” coins.
btc/USD is now once again above all three price iterations made.
“Enjoy sub-$40,000 bitcoin… while it lasts,” PlanB commented in an accompanying chart.
When asked if the market should expect lower levels from now on, PlanB didn’t get carried away, saying that it simply expected an average btc price of at least $100,000 between 2024 and 2028 – the next bitcoin halving cycle.
bitcoin hodlers bet on six figures
Although PlanB has bitcoin-s-bullish-hype-fades-but-analyst-says-planb-s-stock-to-flow-model-is-still-relevant” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/bitcoin-s-bullish-hype-fades-but-analyst-says-planb-s-stock-to-flow-model-is-still-relevant/amp”>He faced criticism over the stock’s flow and admitted that bitcoin failed to live up to its expectations during its 2021 bull market; Six-figure predictions for the next cycle are becoming more common.
Related: bitcoin at $1 million after ETF approval? btc price predictions diverge wildly
As Cointelegraph reported, these are coalescing around an area with $130,000 as a focus by the end of 2025.
Meanwhile, the halving, scheduled for April 2024, should produce a return to around $46,000, based on further analysis.
Earlier this month, PlanB described bitcoin as a “pre-bull market” phase, with the actual launch yet to come.
In my opinion, bitcoin is currently in a pre-bull market (yellow) and on the way to a full-blown bull market (red, after halving, unless the ETF is approved first).
Please note that I changed the colors and art names again to better align with the S2F model:
pre-bull
bull market
pre-bear
bear market pic.twitter.com/tmayjteVWv— PlanB (@100 billion dollars) November 19, 2023
This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision.
