Categories: Bitcoin

PlanB believes that Bitcoin will enter the “second leg of the bull race”

Bitcoin price rose 6.6% in 24 hours and exceeded the $ 49,000 area immediately (August 21). Currently, King Coin is up 51% from the earlier month and lots of consider the bull run will not be over but.

Last week, Plan B defined why it was satisfied of its earlier forecast, stressing that “the bitcoin bull cycle is not over yet, $ 64,000 is not the top”.

“Both S2F Bitcoin (white line) and the on-chain signal (color, not yet red) indicate the second stage of this bull market.”

S2F mannequin that Plan B shared on August 17, 2021

User Joel McKinney has ask PlanB: “Are we again to $ 288,000? Or nonetheless 100,000? I’m actually confused, “and the analyst confidently replied,” Will go up, first $ 100,000, then $ 288,000. “

Bitcoin is accumulating

According to Intotheblock’s on-chain index, many Bitcoin are accumulating.

Number of addresses with Bitcoin as of August 18, 2021 | Source: Intotheblock

The intotheblock analysis group mentioned:

“Since February 2021, the number of addresses with at least one bitcoin has decreased by 40,000, starting with the initial price of $ 50,000 and accelerating in June when the price fell below $ 30,000. This suggests that profits will be taken first and then potentially panic selling leading to a crash. “

“This development shortly elevated in the other way as the quantity of addresses with a number of bitcoins returned to over 800,000, which confirmed renewed curiosity and accumulation of holders. An analogous sample might be noticed in the habits of addresses with greater than 1,000 Bitcoins. “

On the identical Twitter thread, person Sadman Shaumik requested, “Why are people still saying it is an uptrend while 90% of traders are losing money?” Plan B explains:

“Bitcoin has quadrupled in a year, and investors are making profits. 90% of traders always lose in any market because they trade too much and spend a lot of trading fees, or they have no method and are driven by emotions ”.

We invite you to affix our Telegram for quicker information: https://t.me/coincunews

Mr. Teacher

According to News.Bitcoin

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments

Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…

30 minutes ago

Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts

The Bitdeer convertible notes offer a 42.5% conversion premium, allowing conversion into cash with the…

59 minutes ago

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

1 hour ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

3 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

4 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

4 hours ago

This website uses cookies.