Popular cryptocurrency analyst Plan B claimed that Bitcoin (BTC) will never fall below $35,000 again in the future.
Plan B, which has often managed to attract attention with its statements about Bitcoin, this time $35 thousand support he pointed out. Plan B made a statement on social media on November 27. in sharing, Bitcoin difficulty (hash) rate He said that it increased to 35 thousand dollars, which means that the price will increase within 3 months in case of possible sudden corrections.5 thousand dollars will be maintained as support He said it meant.
The $35k indicator offered by Plan B, Energy consumption of Bitcoin miners based on Costs per BTC calculating. According to the general opinion in the market Bitcoin will not be sold below the price at which it was produced So in this case, it is estimated that it will not fall below 35 thousand dollars.
In his comment on this indicator, the popular name stated that Bitcoin may never fall below 35 thousand dollars again:
Bitcoin valuation based on difficulty (hash rate) rose to $35,000 yesterday. IMO this could mean BTC will never fall below $35k again based on $/kWh arbitrage fundamentals, barring possible black swan (sudden drops) or short term fluctuations.
On the other hand, Plan B, who made an interesting speculation in response to a comment on his post, argued that this increase in the hash rate may be due to “insider trading”. He also stated that while rumors about spot Bitcoin ETF approval are increasing, institutions may be buying Bitcoin through miners:
Since you can buy Bitcoin directly with dollars (investors) or indirectly with kWh (miners), there is arbitrage (modeled by the red line). Difficulty (hash rate) is increasing RAPIDLY. So, do miners know things that investors don’t (yet) or… Are ETFs bought through miners!!?
According to CoinGecko data, in the last 24 hours 0.4% increase BTC exhibiting, at the time of writing from $37,210 is being traded.