Bitcoin Stock-to-Flow model creator PlanB predicts BTC will never fall below $33,000, its current 200-week moving average. This revised prediction surpasses his earlier estimate of $40,000 and aligns with pattern analyst Trader Alan's "never come back line" at $60,000, the 5-month realized price.
Bitcoin's Unwavering Fort: PlanB Unveils New Price Floor at $33,000
Renowned Bitcoin (BTC) analyst and creator of the Stock-to-Flow (S2F) model, PlanB, has boldly declared that the world's largest cryptocurrency will never dip below the $33,000 mark again. This assertion, which has sent shockwaves through the crypto community, marks a significant shift from his earlier prediction of a $40,000 floor.
According to PlanB, Bitcoin has consistently traded above its realized prices, which represent the average price at which coins have been purchased or acquired. He has identified $32,000 as the conservative 5-month realized price, $44,000 as the 2-year realized price, and $60,000 as the aggressive 5-month realized price.
PlanB's conviction in Bitcoin's resilience stems from the cryptocurrency's remarkable track record of defying bearish expectations during bull markets. He explains that BTC has historically never breached its 2-year and 5-month realized prices during periods of market expansion.
The analyst's latest prediction aligns with the views of prominent pattern analyst Trader Alan, who proposed the concept of a "never come back line" for Bitcoin. According to Trader Alan, BTC will never revisit its 5-month realized price, which currently stands at $60,000.
While PlanB's S2F model has been lauded for its accuracy in the past, it has also faced criticism for its occasional failures. Nevertheless, the coming months will provide a crucial test for his latest forecast. If Bitcoin continues to trade above $33,000, PlanB's reputation as a visionary analyst will be further cemented.
PlanB's prediction has sparked widespread debate within the crypto community. Some analysts have welcomed it as a sign of Bitcoin's strength and resilience, while others remain skeptical, citing the potential for unforeseen market events and the volatility inherent in the cryptocurrency market.
Despite the uncertainty, PlanB's assertion has instilled renewed confidence among Bitcoin enthusiasts who see it as a testament to the cryptocurrency's long-term potential. As the market continues to evolve, all eyes will be on Bitcoin to determine whether it will continue to defy gravity and ascend to even greater heights.
