Home / Capital Markets News /Analyst On Bitcoin: ‘I Don’t Think $60K Was The Top, Far From It…’

Analyst On Bitcoin: ‘I Don’t Think $60K Was The Top, Far From It…’

23 May 2021

The recent crypto market crash saw various coins plummet by double-digits. The largest crypto by market capitalization, BTC, saw a fall of around 30%, followed by ETH which fell by 40%. Even Dogecoin saw a decline of around 45%. Many traders asked the same question -Is it time to sell? Well, many of them already did, as the selling pressure on various exchanges increased significantly.

However, many bitcoin proponents didn’t let panic-sell take over the HODL strategy. Renowned analyst, PlanB, known for his contribution towards the S2F model, still projects BTC’s price to surpass the $100k mark and even further despite the recent dip.

PlanB expressed his optimism about BTC in conversation with ‘The Wolf’, Scott Melker.

PlanB opined about his Stock-to-flow model which actually supported his price projections. He stated:

“It’s more accurate than I could have dreamed… Currently it is tracking like a train- S2F model shows Bitcoin reaching $100,000 and the model has Bitcoin jumping past $288,000 before the next bear market hits.”

Source: PlanB Twitter

He even recently tweeted regarding the same:

He also commented:

On the topic of the Bitcoin bear market, he reiterated,

“A bear market is possible – as low as $100k to $200k maybe below where it could see 80-85% retracement like previous cycles”

He also addressed the price targets after the next BTC halving in 2024; he said:

“Post halving, 2025 onwards is gonna be interesting. S2F model predicts BTC price from $1 million as per the S2F model and $S2FX model says $5million.”

Sign Up For Our Newsletter

Source From : Ambcrypto

© CoinJoker 2019 | All Rights Reserved.