bitcoinWhile the squeeze of .
While investors continue to bet on whether the direction will be up or down, a prediction came from the famous analyst Plan B that the breakout in BTC will be up.
Interviewing cryptocurrency analyst Benjamin Cowen plan B, He thinks the trend in BTC will be to the upside.
Although the current sentiment in the crypto money industry is down due to the bankruptcy of FTX and the events that followed, Plan B, BTCHe stated that he expects Bitcoin to reach $100,000 after the halving in 2024.
Plan B, the catalysts that could trigger a possible rally in Bitcoin include the end of the Russia-Ukraine war or the loosening of monetary policies apart from the halving.
“I know the market sentiment is not positive due to the collapse of FTX, but we have a year and a half before the next BTC halving.
So, once the monetary policy is relaxed and the war between Russia and Ukraine is over, Bitcoin could easily reach $100,000. And I wouldn’t be surprised by that.”
“Bitcoin Bottom Coming Soon!”
Cryptocurrency Also answering the question of whether there was a bottom in the market, Plan B said that Bitcoin typically hits its bear market low about 18 months after reaching its ATH.
In this context, the analyst thinks that the bottom may occur in BTC in the next three months.
“Usually, bear market bottom comes about a year and a half after all-time highs.
This is true in 2019, in 2015, as well as today, in 2022. The rise will only occur when we hit the bottom in a bear market.
So the bullish doesn’t start during or after the halving. It will start when the bottom of the bear market is reached. And that could happen today. Or next month. Or maybe three months from now. But it will definitely start to rise.”
at the time of writing bitcoin It is trading at $16,562.
*Not investment advice.
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