Bitcoin is doing better than fine as the industry embraces the flagship cryptocurrency with open arms; it is now trading slightly below $63K with a bullish run accompanying its trade as it goes ahead. The bullish run is strong this time around, and lucky for Bitcoin, it might be able to take the cryptocurrency to new horizons out there. Many experts, as a result, have taken it to Twitter to share their insight about his whole thing and how it would affect Bitcoin in the long run.
The Dutch crypto trading expert and pseudonymous analyst Plan B has also taken it to Twitter to demonstrate the current activity for Bitcoin and what the bullish run has in store for the flagship cryptocurrency. Plan B has previously presented with stock-to-flow price prediction models, and some of them have proved significant over the years while others didn’t.
Plan B’s Prediction for Bitcoin
There is this six figures model which the Plan B analyst has installed regarding Bitcoin, according to which Bitcoin will be able to reach six figures by the end of 2021. It is a very bold statement, and given the current market support for Bitcoin and bulls backing every play of the flagship cryptocurrency, it doesn’t seem that bitcoin’s price is going to take another hit. The overall sentiment of the market remains strong and vibrant, and this is exactly what Bitcoin needs at the moment to push through. Another technical analyst by the name of CryptoBirb agrees with Plan B and has said to his followers that they should close their Bitcoin short positions before it is too late.
No one knows how Bitcoin is going to perform next; either its value would depreciate or increase. But there is this prediction in the air that if Bitcoin crosses $70K, then the snowball effect would kick in. According to this, more and more investors and traders would start pouring money into Bitcoin, and the market will see some very positive returns for it. That is why it is being suggested that people should invest in Bitcoin when there is still a chance rather than regretting their decision of passing on this once-in-a-lifetime opportunity.