PlanB Confident in Bitcoin’s Support Above $100,000

Renowned analyst PlanB, famous for the Bitcoin Stock-to-Flow model, predicts Bitcoin will not drop below $100,000 despite 63% public skepticism, as reported on October 7th.

This assertion occurs amid Bitcoin’s ongoing surpassing of historical price resistances, reflecting potential market bullishness, supported by institutional interest and significant on-chain activity.

PlanB’s Support Prediction at $100,000

As Bitcoin surpasses $100,000 for the fifth month, analysts and traders predict a continued upward trajectory, reflecting robust market confidence. Institutional investments and Bitcoin options market trends underline this sentiment. Market reactions have showcased predominantly bullish behavior as institutional players, like BlackRock, exhibit heightened interest. Despite some skepticism, PlanB remains unwavering in his positive outlook on Bitcoin’s future. Read more.

Recent movements indicate a stable rise, with a 14.22% increase over the past 90 days. According to the Coincu research team, if similar trends persist, financial models predict Bitcoin may sustain these levels. Regulatory shifts and technological enhancements bolster its role as a key asset. Consistent support from institutional adoption indicates ongoing strength in Bitcoin’s market foundation.

“63% of people believe Bitcoin will drop below $100,000, but I believe this scenario may not occur. Bitcoin is currently in the process of turning the $100,000 resistance level into support, marking the fifth consecutive month above $100,000 in September. We’ve seen similar transformations at $10,000, $1,000, $100, and $10 in Bitcoin’s history.” — PlanB, Renowned Analyst, Bitcoin Stock-to-Flow Model Developer

Bitcoin’s Market Trajectory and Institutional Impact

Did you know? Historical Bitcoin patterns have seen key psychological price levels evolve into support, marking critical turning points in its market trajectory.

Bitcoin (BTC) is currently valued at $124,242.35, boasting a market cap of $2.48 trillion as per CoinMarketCap. Its 24-hour trading volume is $70.48 billion.

Recent movements indicate a stable rise, with a 14.22% increase over the past 90 days. According to the Coincu research team, if similar trends persist, financial models predict Bitcoin may sustain these levels. Regulatory shifts and technological enhancements bolster its role as a key asset. Consistent support from institutional adoption indicates ongoing strength in Bitcoin’s market foundation.