Bitcoin

Optimism

The creator of the Bitcoin Stock-to-Flow (S2F) model, widely known as PlanB, has recently posited a new foundational level for Bitcoin (BTC), suggesting the cryptocurrency is unlikely to fall below $33,000, which aligns with its 200-week moving average. This assertion by the analyst, who often stirs debate within the cryptocurrency community, suggests a new floor for Bitcoin’s value, particularly following halving events and during bear market periods. 
In an update that departs from his earlier predictions, PlanB adjusted his outlook from a previous statement in early February, where he argued that Bitcoin would not dip below $40,000 — a figure he correlated with its five-month realized price. This initial assessment came in the wake of Bitcoin’s recovery from a dip triggered by investor reactions to the U.S. Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds (ETFs), which had seen the cryptocurrency climb to $45,000. 
To support his earlier projections, PlanB highlighted various realized price points for Bitcoin, including the two-year and five-month realized prices of $32,000 and $40,000, respectively, alongside an overall price of $23,000. Following a rally that pushed Bitcoin’s value above these benchmarks, it seemed improbable to PlanB that the digital asset would regress below $40,000. 
Nonetheless, reflecting on the shifting on-chain dynamics and the ongoing bull market, PlanB has revised its prediction, now asserting that Bitcoin will maintain a value above $33,000. He notes an increase in the overall realized price to $29,000, with the two-year and five-month realized prices climbing to $44,000 and $60,000, respectively. According to PlanB, these figures represent the conservative and aggressive thresholds that Bitcoin does not fall beneath during bull markets. 
This recent prediction aligns with insights from pattern analyst Trader Alan, who, in March, suggested that Bitcoin was on the verge of reaching a “never come back line.” Trader Alan’s analysis, which includes a chart illustrating these critical thresholds from past cycles, indicates that Bitcoin will not revert to levels below $60,000, corresponding with its five-month realized price as outlined by PlanB. 
While PlanB’s S2F model has seen its share of successes and failures, with some community members questioning its accuracy, these latest forecasts from PlanB and Trader Alan provide a speculative insight into Bitcoin’s potential price movements. As the cryptocurrency landscape continues to evolve, the forthcoming months will be crucial in determining the veracity of these predictions. 
The post <a href="https://micky.com.au/planb-sets-33000-as-bitcoins-new-floor-amid-market-optimism/">PlanB Sets $33,000 as Bitcoin’s New Floor Amid Market Optimism</a> appeared first on <a href="https://micky.com.au">Micky</a>.

PlanB Sets $33,000 as Bitcoin’s New Floor Amid Market Optimism

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