BTC Price Not Going Back to $6,000 or $4,000, Says Analyst PlanB But $300k “Absolutely”

  • Bitcoin calming down, wth some consolidation still expected but “retraces are healthy”
  • There is no plan C says analyst PlanB who expects BTC price to go above $10,000 in May, on reward halving and then top at above $100k before December 2021

Bitcoin has made a healthy retracement, down from the $10,000 level to now hovering around $9,800. A move that is considered to be setting a base for the Bitcoin’s future move still hasn’t gone below $9,700.

Bitcoin is basically calming down here and approaching the first potential support level around $9,400 and $9,500, although it could be a bit lower, said popular trader Crypto Michaël. According to him, some consolidation is still expected.

The leading digital asset holding this area would be a great sign but if we start losing it, $9,000 is the level to watch.

As long as we remain above $9,000, “Retraces are healthy,” he said.

Meanwhile, random coins are popping as much as 50 to 60%. Major cryptocurrencies are breaking out such as Cardano (ADA) and EOS both of which had a golden cross. Other large-cap cryptos are also running upwards with massive percentages. But the “upside potential is gigantic (with) massive gaps on altcoin charts ready to be filled,” said the trader.

Source: Coin360

BTC had overshot S2F model values at least by a factor of 3

Now, if we talk about Bitcoin, we are fast approaching the third reward halving in May 2020 which prominent analyst PlanB says would see BTC above $10,000.

While sharing his “2 sats on bitcoin,” PlanB said in 2020, the flagship cryptocurrency would stay above $8,200. According to him, we would not be seeing $6,000 or $4,000 again as others are predicting.

In 2020, Bitcoin won’t be dropping to this level and after jumping above $10,000 in the next three months, the bull run will officially start. Continuing in 2021, the analyst who is known for using stock-to-flow model to determine BTC price says, price will top $100k before December 2021.

And what if PlanB goes, wrong, what about a plan C. Well, the analyst does not have any as he answers to a Twitter user, “live by S2F model, die by S2F model.”

As we reported recently, PlanB sees bitcoin overshooting the $100,000 in Dec. 21 because the last two halvings in 2012 and 2016 BTC overshot S2F model values as well by at least a factor of 3.

With awareness, adoption and demand increasing while over hundreds of bitcoin on-ramps emerging around the world in compared to the last bull cycle in 2017, we can “absolutely” see the next top around $300k according to him.

Bitcoin (BTC) Live Price

1 BTC/USD =$9,060.1901 change ~ -0.87%

Coin Market Cap

$166.93 Billion

24 Hour Volume

$2.82 Billion

24 Hour VWAP

$9.09 K

24 Hour Change

$-79.0090

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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