As we enter Q4, many crypto analysts are certain that the road to recovery is very much in tow. In particular, seasoned crypto trader and analyst — PlanB, shares his analytical prowess with his opinion on Bitcoin’s price chart.
Read CRYPTONEWSLAND onIn detail, PlanB says that he finished an on-chain analysis. To highlight, he says that we are midway towards the second leg of the bull market. In his opinion, there is not a single sign of weakness yet for Bitcoin’s possible price run.
To emphasize, PlanB draws light to the chart in the tweet. He says that the color overlay on the chart is not months to halving but is in fact an on-chain signal. This is a truly exciting observation.
In conclusion, PlanB says that the second leg of the bull market will take place likely after 6 more months. At least, this is what he believes will happen based on his analysis alone.
Let’s have a quick look at Bitcoin’s rally this year. Bitcoin (BTC) set an ATH of $64,804.72, according to CoinGecko in April 2021. Along with this, many altcoins also surged massively.
However, soon after, there was a big dip in the crypto market. Over the last few weeks, the price of Bitcoin and many altcoins surged yet again. As of right now, most analysts believe that the market is still in its recovery stage.
Most importantly, the majority of crypto holders, traders, and analysts believe that a massive surge in crypto prices is yet to come. According to many notable figures in the industry, the price of Bitcoin (BTC) will likely reach $100,000 by the end of this year.
In contrast, PlanB’s latest analysis says that the next bullrun will end after 6 months. The tweet saw many interesting responses. For instance, some say the surge will happen by the time Jan 2022 arrives. Others call for long, meaning holders should continue to HODL for longer than expected to see greater results.
Explore how #BlockDAG's recent $27.7M raise and dashboard upgrade positions it against Dogecoin and #BinanceCoin…
#Cardano roars back to $0.48, igniting investor optimism with a surge in trading volume and…
#XRP's potential surge to $18? Analysts analyze the bull flag pattern amidst Ripple's legal battle…
#Tether develops a #P2P financial terminal using #Holepunch tech to enhance market stability and decentralize…
#Ethereum bulls charge ahead! Bullish signals abound, but market volatility looms. Will #ETH break resistance…
#Binance Labs supports Magic Square's new #IDOplatform focusing on equitable #Web3 investment access.#MagicSquare