Known for his quantitative analysis PlanBHe stated that he is not worried about predicting the exact market cycle of Bitcoin (BTC).
In an interview with Will Clemente, PlanB stated in the interview that Bitcoin’s current position is not at the end of a “bear market” or a “FOMO bull market”. According to analyst Bitcoin (BTC) He is somewhere in between at the moment, but still stated that he is not interested in predicting the top of the bull market.
“I’m not at all interested in the top spot. I’ll know when we get there, but I don’t know where it is. I’m not interested in that either because I think it’s probably going to be a one-minute boost, am I right? I can’t trade it. I couldn’t sell or buy at that price level. I am more interested in general levels.”
PlanBHe said that traders should be on the lookout for supply shortages to gauge when Bitcoin’s top might come.
“I look at it at the chain level and then I see the spikes until this shortage occurs, but I think we’re still months away from that ‘explosion’ moment.”
The analyst thinks that Bitcoin is still 3-6 months away from its peak and could potentially take longer.
“I really don’t think a collapse is coming. I think we will see a bull market that lasts for at least six months and brings us to the $100,000-200,000 range.
I wouldn’t be surprised if I see $500,000 worth of BTC in early 2022!”
PlanB says Bitcoin will hit at least $98,000 by the end of November and then in December. $135,000predicts it will rise.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.