Bitcoin is headed for a new all-time high. That’s what PlanB, one of the most renowned Bitcoin analysts, says. When is it ready?
Bitcoin is fighting the resistance
Bitcoin has tried its hand at the psychologically significant $ 50,000 mark several times in the past two weeks. So far, however, without success. The reserve currency managed to briefly move above $ 50k. Again and again, however, there was a decline below the range. Analysts are now sketching $ 51,000 as resistance to be conquered for further profits.
BTC is currently trading at $ 49,500, well below the critical range. But: According to one of the most sought-after Bitcoin analysts, it is only a matter of time before cryptocurrency number 1 breaks out and climbs above its all-time high of $ 64,804, which Coingecko.com said on April 14th. Because, according to the pseudonymous Dutchman “PlanB”: Bitcoin is still in an upward trend – and thus on the way to six-digit prices.
But why does the crypto community think so much of its predictions? Very easily: because so far they have always been astonishingly precise. For example, when Bitcoin bobbed below $ 34,000 in June and many assumed further losses, PlanB predicted an increase of $ 13,000 – by the end of August. That’s exactly how it happened: On August 31, the Bitcoin price was more than $ 47,150. PlanB comments on this on Twitter: Bitcoin runs like clockwork, like clockwork.
– PlanB (@ 100trillionUSD) September 1, 2021
September will be bearish, October will be bullish
So what’s next for Bitcoin? What does PlanB expect in the next few weeks and months with the course of the crypto currency number 1? The analyst commented on this in a tweet. In it, he reveals his “worst case” prices for Bitcoin – that is, how much Bitcoin will be worth in the next few months in the worst case.
PlanB relativizes: The forecasts could all be invalidated by unforeseeable events, such as a war with China or a Bitcoin ban. The expected rates are tough: The August forecast of $ 47,000 was already perfectly correct, and now he expects a rather bearish month for September with a possible decline to $ 43,000. After that, however, Bitcoin switches to bull mode – and steers towards six-digit prices. PlanB:
“My worst-case scenario for 2021 (price and on-chain-based): Aug> 47K, Sep> 43K, Oct> 63K, Nov> 98K, Dec> 135K”
Bitcoin is below $ 34K, triggered by Elon Musk’s energy FUD and China’s mining crack down.
There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price / on-chain based): Aug> 47K, Sep> 43K, Oct> 63K, Nov> 98K, Dec> 135K pic.twitter.com/hDONOVgxH1
– PlanB (@ 100trillionUSD) June 20, 2021
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