Plan B: Bitcoin (BTC) Is Forming A Base For The Upcoming Bull Market

2022-05-17 | Selina Mathew

Plan B: Bitcoin (BTC) Is Forming A Base For The Upcoming Bull Market

The projected Bitcoin (BTC) price to reach $100k in December 2021 failed, according to PlanB, the author of the Stock-to-Flow (S2F) model, because it had been in a bear market since April 2021.

The Bitcoin (BTC) price is now forming a bottom as the Bitcoin market is under intense pressure. The bull market will arrive shortly.

The Next Bull Market, According to PlanB

PlanB estimated $100k in December 2021 based on the Stock-to-Flow model in 2021. However, after reaching a high of about $69k in November, the BTC price has entered a bear market. The price has now dropped to a low of $26,350 on May 12.

PlanB currently claims that the market's pressure is due to Bitcoin (BTC) creating a fresh bottom. According to fresh information, the BTC price is projected to bottom out in the second half of 2022, maybe around October. Following that, a bull market will begin, bringing values towards $100,000.

Famous experts like Peter Brandt and Michaal van de Poppe have already expressed similar sentiments. Peter Brandt recently forecast a bottom near $27,000, from which a rise may be expected. Michaal van de Poppe also believes the Bitcoin (BTC) price might drop to roughly $28,000 before resuming its positive trend.

 

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