Ethereum

FOMO

Bitcoin

Bull Market

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The Bitcoin bull market officially began on March 1, according to quantitative analyst PlanB.</li> 
 <li>The Bitcoin accumulation phase and easy buying opportunities have ended, as per PlanB’s analysis.</li> 
</ul>  
<p>The bull market for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin (BTC)</a> is officially underway since March 1, as stated by the pseudonymous quantitative analyst PlanB. PlanB, known for creating the contentious stock-to-flow (S2F) model for Bitcoin price, asserts that the accumulation phase for Bitcoin has concluded. </p> 
<h2 id="bitcoin-s-bull-market-and-s2f-model">Bitcoin’s Bull Market and S2F Model</h2> 
<p>In a post on X (formerly Twitter), PlanB referred to the S2F chart and stated, “Bull market has started. If history is any guide, we will see ~10 months of face-melting FOMO: extreme price pumps combined with multiple -30% drops.” This forecast came two days post Bitcoin surpassing $60,000 for the first time in over two years. </p> 
<p>Despite its popularity during the 2021 bull run, the S2F model is not a flawless Bitcoin price oracle. As per the model, Bitcoin should have crossed the $100,000 mark in early August 2021, when it was trading around $44,000. <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">Ethereum</a> co-founder Vitalik Buterin has criticized the S2F model for giving investors a “false sense of certainty.” </p> 
<h2 id="analysts-expectations-and-market-trends">Analysts’ Expectations and Market Trends</h2> 
<p>PlanB’s predictions align with other market analysts’ expectations. Vetle Lunde, a senior analyst at K33 Research, suggests that Bitcoin typically consolidates immediately after the halving but rallies in the subsequent months. Lunde stated that each halving has proven to be a solid entry point into the market, especially 150-400 days post the halving. </p> 
<p>In addition to the much-anticipated halving, the recently approved spot Bitcoin exchange-traded funds (ETFs) have contributed to the growing investor interest in Bitcoin, leading to its subsequent price appreciation. </p> 
<p>Despite a 3% correction in Bitcoin price after Grayscale’s recently converted Bitcoin Trust (GBTC) ETF sold $598.9 million worth of BTC on Feb. 29, Bitcoin price has risen over 22% in the past week. Excluding Grayscale’s ETF, the nine new spot Bitcoin ETFs recorded over $2 billion in combined daily volume for the second consecutive day on Feb. 28. </p> 
<p>These ETFs have introduced passive, price-agnostic demand for the first time in Bitcoin’s history, which will lead to new all-time highs before the end of 2024, according to a research report by Bitfinex Analysts. The report forecasts a conservative price objective of $100,000-$120,000 to be achieved by Q4 2024, with the cycle peak expected sometime in 2025. </p>

PlanB Forecasts 10 Months of Intense FOMO in Bitcoin Market

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