Bitcoin (BTC), the world’s largest cryptocurrency by market cap, is poised for its next bullish rally, according to leading analyst PlanB.
The analyst emphasized that Bitcoin (BTC) is currently in an accumulation phase and its performance aligns with an alternative version of the stock-to-flow model. Based on this analysis, PlanB asserts that a full-scale “bull market” phase is on the horizon for Bitcoin (BTC)’s price dynamics.
When asked about the precise dates of the next Bitcoin bull run, PlanB stated Bitcoin halving is a historical catalyst BTC price uprising. He expects this anticipated halving to play out by April 2024.
PlanB expects the next bull run to last for a minimum of eight months, suggesting that Bitcoin (BTC) could reach its cycle high by Q1 2025. The analyst also mentioned the significance of the liquidation phase initiated by the collapse of the Terra (LUNA) and FTX ecosystems.
PlanB is a well-known author of the “stock-to-flow” Bitcoin (BTC) price model, which underscores the increasing scarcity of the cryptocurrency as a driving force behind its bullish performance. As Bitcoin (BTC) issuance continues to decrease by 50% every four years, the asset becomes increasingly scarce, thus driving its price upward.
Read Also: PlanB Shows that Bitcoin Price Pattern Is Exhibiting the Trend that Preceded $69k ATH
While the “stock-to-flow” model proved reasonably accurate in the past, its precision has faced challenges in recent months.
In light of the impending bullish rally, PlanB has simplified his model, transitioning to the “accumulation-bull market-bear market-liquidation” framework. However, he maintains that the psychological mechanisms guiding Bitcoin (BTC) investors will remain relatively unchanged in the next bull market.
At the time of writing, BTC is priced at $26,766.96. As analysts like PlanB predict an upcoming bull run, investors eagerly await the periodic event to see how Bitcoin (BTC) price dynamics will unfold in the coming months and years.
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