Bitcoin

Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term for Bitcoin. According to the analyst, we might be in the final days of Bitcoin below $40,000.&nbsp; 
PlanB made a call to action based on his analysis of Bitcoin’s realized price, as all signs point to Bitcoin going on a strong price surge very soon. 
<h2 id="b-enjoy-sub-40-000-bitcoin-while-it-lasts-b">Enjoy Sub-$40,000 Bitcoin While It Lasts</h2> 
<a href="https://www.newsbtc.com/news/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details/" target="_blank" rel="noopener ">Bitcoin has outperformed</a> other asset classes in terms of price performance this year. Price data shows the cryptocurrency is currently up more than 125% this year, and many analysts think this <a href="https://www.newsbtc.com/gambling/cryptoleo-casino-review-with-bonus/" target="_blank" rel="noopener ">growth isn’t stopping soon</a>. 
Crypto analyst PlanB is also of this <a href="https://www.newsbtc.com/bitcoin-news/trader-bitcoin-will-inevitably-breeze-past-70000-heres-why/" target="_blank" rel="noopener ">continued bullish sentiment</a>. According to his analysis of the realized price model, this could be the last chance to buy Bitcoin under $40,000. Realized price refers to the average price of all Bitcoin currently in circulation. Some experts argue this is a better measure of Bitcoin’s value than the current market price.&nbsp; 
Bearish markets are usually characterized by a higher realized price than the spot price of Bitcoin. Bullish markets, on the other hand, are characterized by a higher spot market price. A look at the realized price shared by the analyst shows that the spot price of Bitcoin is now trading above the overall realized cost price, the 2-year realized price, and the 5-month realized price. If history is any guide, the market price could be headed significantly higher from here.&nbsp; 
“Enjoy sub-$40k bitcoin … while it lasts,” the analyst said. 
<blockquote class="twitter-tweet"> 
 Enjoy sub-$40k bitcoin … while it lasts <a href="https://t.co/MgGD5LfuL7" rel="nofollow">pic.twitter.com/MgGD5LfuL7</a> 
 — PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1728011270970863892?ref_src=twsrc%5Etfw" rel="nofollow">November 24, 2023</a>
</blockquote> 
<h2 id="b-last-chance-to-buy-bitcoin-b">Last Chance To Buy Bitcoin</h2> 
Bitcoin is trading at $37,687 at the time of writing. According to <a href="https://studio.glassnode.com/metrics?a=BTC&amp;m=market.PriceRealizedUsd" target="_blank" rel="noopener nofollow">Glassnode</a>, the cryptocurrency’s realized price is currently around $21,000. When asked if there would be another opportunity to buy Bitcoin cheap one last time, PlanB replied neither yes nor no, only predicting that the cryptocurrency would trade between $100,000 to $1 million around the next halving cycle. 
<img loading="lazy" decoding="async" class="aligncenter size-full" src="https://www.tradingview.com/x/ya742KxZ/" width="1835" height="893"> 
A <a href="https://twitter.com/100trillionUSD/status/1703750148612837456?s=20" target="_blank" rel="noopener nofollow">former prediction</a> by the analyst puts Bitcoin around $32,000 to $66,000 during the next halving which is slated to occur in April 2024.&nbsp; 
PlanB’s prediction resonates with the overall sentiment around Bitcoin. The cryptocurrency’s mainstream adoption is also increasing, particularly as the industry awaits the approval of <a href="https://bitcoinist.com/bitcoin-spot-etf-sec-blackrock/" target="_blank" rel="noopener nofollow">spot Bitcoin ETFs</a> in the US. According to <a href="https://bitcoinist.com/bitcoin-solana-lead-institutional-inflows/" target="_blank" rel="noopener nofollow">CoinShare’s latest report</a>, Bitcoin now has a year-to-date (YTD) inflows of $1.238 billion into its digital asset investment products.&nbsp; 
The discount on Grayscale’s Bitcoin Trust is now at -7.31% from -48% at the beginning of the year. This increase indicates institutions are buying into the trust amidst growing bullish momentum. A move into the positive percentage would actually put the price of the trust higher than the spot price of Bitcoin for the first since the first quarter of 2021. 
<blockquote class="twitter-tweet"> 
 NEW: Grayscale Bitcoin Trust’s discount to the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Bitcoin</a> price is closing fast – from 48% to just 7.3%. 
 The smallest gap since July, 2021. 
 Institutions buying? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/hDnAM0BxKG" rel="nofollow">pic.twitter.com/hDnAM0BxKG</a> 
 — Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1728096754682233194?ref_src=twsrc%5Etfw" rel="nofollow">November 24, 2023</a>
</blockquote> 
Featured image from Pexels

Analyst Sounds Warning: This Might Be Your Last Chance To Buy Bitcoin Below $40,000

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