Bitcoins (BTC) the price for the last day decreased and decreased from maximum over $ 60,000 under $ 50,000. However, according to a known cryptanalyst, this does not necessarily mean that the bull’s asset has ended. Plan B.
“Nothing goes straight,” PlanB said he said on friday friday.
“#Bitcoin has increased for 6 months in a row, up to this month.” It looks like a halfway trip, which we also saw in 2013 and 2017. “
PlanB is known in the crypto industry Bitcoin Stock-to-Flowor model S2F. This model essentially projects the price of bitcoin along the ascending path along with its halves and growing scarcity. He also constructed a number of other models around the concept that take into account various aspects.
In the last few months, bitcoin has exceeded its historically highest price in 2017, bit according to TradingView, he is only ashamed of $ 65,000 on April 14. In the following days, until April 23, BTC continued to decline near $ 47,500 – about a 26% decline. However, according to the PlanB tweet, this step does not contradict previous bitcoin bull cycles.
Friday’s PlanB tweet also included a chart of bitcoin pricing during the bull markets that followed each of its previous halves. The robberies took place in 2012, 2016 and 2020. Bull markets followed in 2013, 2017 and 2020/2021.
– PlanB (@ 100trillionUSD) April 23, 2021
Previous bull runs have maintained significant price returns against the backdrop of a larger cycle of macro bulls. Based on the BLX chart BraveNewCoin on TradingView, during the bull run of 2013, after remarkable price promotions, bitcoin he suffered a fall of about 75% between April and July 2013. After this decline, bitcoins before the publication in 2014 recorded significant gains.
In September 2017, bitcoin suffered a decline of about 40% after significant gains, but reached new highs in the following months before falling to bear market a year later.