Cryptocurrency and bitcoin PlanB, one of the controversial names in the world, claimed that BTC is ready to pass an important resistance level that has historically started a bull run.
Twitter account with close to 2 million followers sharing PlanB stated that he is patiently waiting for the Bitcoin price to exceed the two-year realized price of $ 29,500.
Patiently waiting for #Bitcoin to cross 2Y realized price ($29.5k dark blue). More info: https://t.co/EbD8Scyl8d pic.twitter.com/f6VLYZq9rz
— PlanB (@100trillionUSD) May 27, 2023
NEWS CONTINUES BELOW
The realized price measure measures the value of all tokens at the purchase price by dividing them by the number of tokens in circulation.
In a video released three months ago, the trader is during bull markets. bitcoin priceHe stated that the prices tended to be above all realized prices. He goes on to say that BTC has “always” formed a historical pattern that marks the beginning of a bull market.
In bull markets, red dots, Bitcoin price, in 2017, 2013, 2011 and 2021 [gerçekleşen] above all prices. In bear markets, Bitcoin is below all realized prices. Most importantly, Bitcoin jumped in January… above the short-term hodler, the five-month realized price, and the black line, the realized price, and moved towards the two-year realized price, a pattern that historically always marks the beginning of a bull market.
The analyst claimed last week that Bitcoin is already in the first phase of a bull market.
https://www.youtube.com/watch?v=pe27FiXtFcw
You can follow the current price action here.