Bitcoin Bull Market ‘2nd Leg’ Now In Motion: Analyst PlanB Expects Extended $135K Run This Year

Bitcoin Bull Market ‘2nd Leg’ Now In Motion: Analyst PlanB Expects Extended $135K Run This Year
фото показано с : zycrypto.com

2021-11-1 13:34

Bitcoin’s bull market 2nd leg officially ignited.The new development now validates $100,000 in the near term.Bull Market expected to extend into Q1 2022, and send prices as high as $288,000.

PlanB, the highly regarded founder of the Bitcoin stock-to-flow model has, in a very recent tweet hinted to the market that the Bitcoin bull rally is far from over. Taking to his surface to warm up the community, he disclosed that the second leg of the Bitcoin rally has taken off.

With the second leg in motion, the market is very well positioned to take on the projected $100k-$135k levels, and possibly break through that price before the year runs out. Although Bitcoin’s surge to $66,974 this month had reinforced the bullish sentiments that the bear market was over, BTC will not only need to maintain stability above the new high but also attempt soaring past $80,000 next month, in order to preserve the positive sentiments.

PlanB first cited the 2nd leg rally earlier this month. The Bitcoin proponent who has accurately predicted the market’s movement for the most part of this year explained that the 2nd leg was not only underway, but that it would last for a good six months.

“On-chain analyses finished tonight: IMO we are midway, no sign of weakness yet. Note color overlay is not months to halving but an on-chain signal. My guess: this 2nd leg of the bull market will have at least 6 more months to go.”

This would mean that the rally could very well continue into March of 2022. Alongside the extended rally, the price of Bitcoin is expected to double its year-end price of $100,000, and even add an extra $88,000 to hit $288,000. This is a striking declaration from the Bitcoiner, as skepticism is still very present in the market. In fact, popular skeptic “CryptoWhale” has maintained that Bitcoin will slip and drop below $20,000 in the long term.

Supporting his prediction is the fact that historically, the market has recorded price dips at the beginning of the year on different occasions. However, it is important to keep in mind that the Bitcoin market is evolving. With prices hitting never-before-seen levels, and some of the most estimable institutions steadily adopting the asset, it is very possible that Bitcoin beats the odds come 2022.

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

bitcoin market planb 2nd leg highly prices

bitcoin market → Результатов: 126


Bitcoin’s Rising Dominance: Shifting Miner Activity and Growing Institutional Interest

Since 2023, Bitcoin’s dominance within the cryptocurrency market has been steadily climbing and is now over 70% of the combined market cap of the top 300 assets. This reflects both growing investor confidence and a strengthening position for the asset as the leading store of value in the digital world. Meanwhile, recent changes in miner [...]

2025-2-11 12:25


Фото:

Bitcoin rebounds above $95K after Monday’s plunge: what’s next for crypto market?

The cryptocurrency market is showing signs of resilience after a sharp downturn on Monday, with Bitcoin leading a partial recovery to climb above the $95,000 mark. Bitcoin had previously plummeted to a low of $89,000—its lowest level in 24 days—as traders anxiously awaited the release of the latest US Consumer Price Index (CPI) report. Major […]

2025-1-14 08:49


Фото:

Bitcoin’s bull market: how to read the signals in 2025

Bitcoin, rebounding powerfully from its bear market lows, has reasserted itself as a leading asset, significantly outperforming traditional financial markets in 2024. Fueled by the historic launch of Bitcoin ETFs in January, a new US administration seemingly supportive of the crypto industry, and the Federal Reserve’s shift toward easing monetary policy, Bitcoin’s resurgence has been […]

2025-1-1 12:39


Bitcoin Fees Drop 86% While Market Confidence Soars As Dominance Reaches New Highs

Despite an 86% plunge in Bitcoin transaction fees this quarter, market confidence remains resilient, with Bitcoin’s dominance hitting its highest level since April 2021. BTC's market share reached its highest since April 2021 this quarter Bitcoin's price traded mostly sideways throughout the quarter, while ETH and smaller tokens set new […]

2024-10-7 12:05


Bitcoin ‘Final Cycle Pump’ Puts Price As High As $200,000

Bitcoin (BTC) could be gearing up its last explosive rally of a four-year market cycle, which traditionally kicks off at the beginning of a halving event and culminates just before the next one. A crypto analyst has boldly predicted that the price of Bitcoin could surge to $200,000 and above, marking new All-Time Highs (ATHs) and the peak of the long-awaited bull market.

2024-9-23 03:01