Bitcoin is purposefully heading for a new all-time high. That’s what PlanB, one of the most reputable Bitcoin analysts, says. When is it time?
Bitcoin struggles on resistance
Bitcoin has tried its hand at the psychologically significant $ 50,000 limit several times over the past two weeks. So far, however, without success. True, the lead currency managed to briefly move above $50k. Again and again, however, there was a decline below the range. Analysts are now outlining $ 51,000 as resistance to conquer for further gains.
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 the # 1 cryptocurrency breaks out and rises above its previous all-time high of $ 64,804, which according to Coingecko.com on 14 April. 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 his predictions? Very simple: because they have always been amazingly precise. For example, when Bitcoin tumbled below $ 34,000 in June, with many anticipating further losses, PlanB predicted a $ 13,000 increase – 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 Twitter: Bitcoin runs like clockwork, like clockwork.
– PlanB (@100trillionUSD) September 1, 2021
September becomes bearish, October bullish
So what’s next for Bitcoin? What does PlanB expect in the coming weeks and months at the price of cryptocurrency number 1? The analyst commented on this in a tweet. In it, he reveals his “worst case”prices for Bitcoin-so how much Bitcoin will be worth in the worst case in the next few months.
PlanB relativizes: The forecasts could all be invalidated by unforeseen events, such as a war with China or a Bitcoin ban. The expected prices have it all: the August forecast of $ 47,000 was already perfect, 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 purposefully 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 & gt;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 & gt; 63K, Nov & gt;98K, Dec>135K pic.twitter.com/hDONOVgxH1
– PlanB (@100trillionUSD) June 20, 2021
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