Bitcoin (BTC) is beginning a parabolic bull run of epic proportions that will last throughout the rest of the year, according to popular price analyst PlanB.
In a post to X on Friday, the pseudonymous Bitcoin bull published a graph plotting Bitcoinâs âmarket cycle,â noting that the price has now emerged from this cycleâs âaccumulation phase.â
âNo more easy buying opportunities in orderly and slowly increasing markets,â wrote PlanB.
âIf history is any guide, we will see ~10 months of face-melting fomo: extreme price pumps combined with multiple -30% drops,â he added.
PlanB grew into one of the most popular online analysts during the 2021 Bitcoin bull market, after predicting several of Bitcoinâs monthly closes with remarkable accuracy.
He also popularized the Bitcoin âstock to flow modelâ, which models the assetâs future price based on its increasing scarcity, projecting an approximate Bitcoin price of $532,000 as early as 2026.
When Bitcoinâs price receded below $20,000 in 2022, PlanBâs model received major scrutiny for being too optimistic. However, now that BTC has returned to over $60,000 per coin, PlanB is insisting that his model is still intact.
âBitcoin Feb closing price: $61,181 ⌠back to S2F model value,â wrote PlanB to X on Thursday.
Bitcoinâs price is up 39% year to date, with major gains driven by the popularity of the newly launched Bitcoin spot ETFs in the United States. The rally culminated in Bitcoinâs largest monthly green candle in history on Thursday.
Funds run by BlackRock, Fidelity, Bitwise, and others have already collectively absorbed over $7 billion of net inflows since their launch on January 11. This even factors in a tsunami of outflows from the Grayscale Bitcoin Trust (GBTC), which is much more expensive to own than the newer alternatives.
Several analysts believe that ETFs will be a primary catalyst for far greater upside going forward. Fundstratâs Tom Lee, for example, believes BTC could hit $150,000 by the end of the year thanks to the ETFs and other factors.
Another newly popularized model, the Bitcoin âPower Law,â also shows a bright future for BTC.
Though its creator, Giovanni Santostasi, has some gripes with the stock-to-flow model, the physicistâs model predicts Bitcoinâs price will hit $200,000 within two years.
The post Bitcoin Set for 10 Months Of Face Melting FOMO, Says PlanB appeared first on CryptoPotato.
In a post to X on Friday, the pseudonymous Bitcoin bull published a graph plotting Bitcoinâs âmarket cycle,â noting that the price has now emerged from this cycleâs âaccumulation phase.â
Bitcoin Bull Market Has Begun
âNo more easy buying opportunities in orderly and slowly increasing markets,â wrote PlanB.
âIf history is any guide, we will see ~10 months of face-melting fomo: extreme price pumps combined with multiple -30% drops,â he added.
PlanB grew into one of the most popular online analysts during the 2021 Bitcoin bull market, after predicting several of Bitcoinâs monthly closes with remarkable accuracy.
He also popularized the Bitcoin âstock to flow modelâ, which models the assetâs future price based on its increasing scarcity, projecting an approximate Bitcoin price of $532,000 as early as 2026.
When Bitcoinâs price receded below $20,000 in 2022, PlanBâs model received major scrutiny for being too optimistic. However, now that BTC has returned to over $60,000 per coin, PlanB is insisting that his model is still intact.
âBitcoin Feb closing price: $61,181 ⌠back to S2F model value,â wrote PlanB to X on Thursday.
Bitcoinâs Massive February Rally
Bitcoinâs price is up 39% year to date, with major gains driven by the popularity of the newly launched Bitcoin spot ETFs in the United States. The rally culminated in Bitcoinâs largest monthly green candle in history on Thursday.
Funds run by BlackRock, Fidelity, Bitwise, and others have already collectively absorbed over $7 billion of net inflows since their launch on January 11. This even factors in a tsunami of outflows from the Grayscale Bitcoin Trust (GBTC), which is much more expensive to own than the newer alternatives.
Several analysts believe that ETFs will be a primary catalyst for far greater upside going forward. Fundstratâs Tom Lee, for example, believes BTC could hit $150,000 by the end of the year thanks to the ETFs and other factors.
Another newly popularized model, the Bitcoin âPower Law,â also shows a bright future for BTC.
Though its creator, Giovanni Santostasi, has some gripes with the stock-to-flow model, the physicistâs model predicts Bitcoinâs price will hit $200,000 within two years.
The post Bitcoin Set for 10 Months Of Face Melting FOMO, Says PlanB appeared first on CryptoPotato.
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