PlanB Forecasts Bitcoin’s Mega Bull Run Post-Halving, Says Price May Never Drop Below $40,000 ⋆ ZyCrypto

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Renowned crypto analyst and the Stock-To-Flow (S2F) model creator, PlanB has expressed optimism about Bitcoin (BTC) experiencing a mega bull run following the upcoming halving.

On Saturday, PlanB began by delving into the S2F chart, emphasizing that not much has changed since last month. Notably, Bitcoin closed January at around $42,600, still slightly below the stock-to-flow line, which ranges between $50,000 and $60,000. Nevertheless, he expressed optimism, highlighting that there is still ample time before the April halving, with “3 more blue dots to go” to bridge the gap and meet the expected upward trajectory.

Addressing the Relative Strength Index (RSI), PlanB highlighted its stability at 62, mirroring the previous month. He dismissed concerns about a potential dip, stating that the uptrend was still intact as long as the RSI is above 50. 

The pundit further highlighted the 200-week moving average, noting that Bitcoin’s price is currently diverging from the average of $31,000. He underscored that historical patterns indicate that Bitcoin tends not to drop below this moving average during bullish cycles. 

PlanB highlighted how Bitcoin has maintained prices above the realized ones, and sellers are consistently making profits, aligning with typical indicators of a bull market.

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“Bitcoin is above all those realized prices, they all go up, and Bitcoin stays above sometimes…so these little dips during a bull market where we see that Bitcoin goes back to the realized price and well, we know at the moment that’s $40,000. So that might mean that Bitcoin will not go below 40K ever again.” He added.

Concluding, PlanB touched upon the market cycles, suggesting that Bitcoin is still in the accumulation phase, anticipating the arrival of the Red Dot on the S2F chart, a signal historically associated with the end of accumulation and the beginning of a bullish move.

Notably, the pundit’s analysis coincided with post, where he underscored the impending scarcity of Bitcoin, comparing it to gold and real estate. Post-April halving, the analyst asserted that Bitcoin’s scarcity would surpass that of gold and the real estate market, potentially pushing BTC past the half-a-million mark.

“After April halving, bitcoin will be scarcer than gold and real estate. It would surprise me if bitcoin market cap (<$1T) will stay below gold market cap (>$10T). This implies a BTC price >$500k (>$10T/20m).” He tweeted.

At press time, Bitcoin was trading at $42,617, reflecting a 0.95% drop over the past 24 hours.

Source: https://zycrypto.com/planb-forecasts-bitcoins-mega-bull-run-post-halving-says-price-may-never-drop-below-40000/