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.

A 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.