Analyst PlanB: Bitcoin Flashes Signal That Marks New Bull Runs
More and more optimistic prediciotns about the price of Bitcoin are coming our way. Take a look at the latest ones made by the famous analyst PlanB. PlanB drops great news about BTC A widely followed crypto analyst said...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
More and more optimistic prediciotns about the price of Bitcoin are coming our way. Take a look at the latest ones made by the famous analyst PlanB.
PlanB drops great news about BTCA widely followed crypto analyst said recently that Bitcoin (BTC) is just about ready to cross a key resistance level that historically starts a bull run.
We’re referring to PlanB who said that he’s patiently waiting for the top digital asset by market cap to cross its two-year realized price, which currently sits at the $29,500 level.
The metric of realized price calculates the total value of tokens based on their purchase price, divided by the number of tokens currently in circulation.
A video was posted three months ago by a trader who observed that during bull markets, the price of the crypto king, Bitcoin, tends to be higher than its realized prices. The trader also mentioned that BTC is currently forming a pattern from history that has “always” indicated the beginning of a bull market.
“In bull markets, the red dots, the Bitcoin price, is above all the realized prices [in] 2017, 2013, 2011, and 2021. In bear markets, Bitcoin is below all the realized prices…”
He continued and said the following:
“What’s most important is that recently, Bitcoin jumped in January… above the short-term hodler, the five-month realized price, and the black line, the realized price, and it’s en route to the two-year realized price, which is a pattern that is historically always a signal of the start of the bull market.”
In other recent news, Arthur Hayes, the founder of BitMEX, said not too long ago that the macroeconomic conditions seem to be turning in favor of Bitcoin (BTC).
During a recent interview on the “What Bitcoin Did” podcast, a seasoned crypto expert shared their belief that the government’s response to a debt deadline crisis typically involves waiting until the eleventh hour before raising the limit.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Bitcoin (BTC) Price Prediction: Bullish RSI Divergence Signals Potential Rebound Toward $65.5K
A bullish divergence on the one-hour chart has drawn attention as the Bitcoin price remains near a key support area, although broa...
Ethereum (ETH) Price Prediction: ETH Tightens Near $1,880 as Analysts Debate Breakout Towards $3,000 or Another Bear-Market Leg
Ethereum price is consolidating around $1,880 as ETH moves deeper into a tightening technical structure, with traders watching whe...
XRP Price Prediction: XRP Risks $0.97 as Price Remains Trapped Below Key EMAs
The weakness has left the XRP price vulnerable to another decline, with technical levels around $0.99 and $0.97 emerging as import...
Bitcoin (BTC) Price Prediction: Bitcoin’s Coiled Market Faces Major Breakout as $62K Support Is Tested
The Bitcoin price has struggled to build lasting upside momentum even as recent US inflation data has eased some pressure on risk...
Strategy tells MSCI ‘Bitcoin doesn’t need you’ as $2.8 billion index risk hangs over MSTR
Strategy faces a renewed threat of removal from major MSCI equity indexes under a broader screening proposal that could trigger an...
Slowing ETF demand and corporate treasury selling are breaking the math behind Wall Street’s $16 trillion Bitcoin target
Bitcoin market cap must rise to ARK Invest's roughly $16 trillion 2030 base case, requiring about 78.6% annual growth from the cur...