Whether the market is up or down, anonymous bitcoin analyst Plan B is always one of the loudest voices in the market. Over the past week, Plan B has become even more active on Twitter, giving multiple daily insights about the direction of the market in his latest tweets. The world’s largest cryptocurrency is given two important updates. The first is an updated prediction from his famous stock to flow model. The second is an equally important update about when the crypto bear market will end. Recall that we recently reported one of the pseudonymous analyst’s tweets where he explained that the crypto market has been in a bear market since it peaked in April 2021. If you want to trace the Plan B’s thoughts, consider the big opportunity that the vast majority of crypto traders take advantage of: the Jet-Bot copy trading platform. Taking advantage of this can be quite beneficial to you. It allows you to copy best trader, earn crypto passive profit, and feel stronger.
Plan B is convinced about when the bear market will end. The analyst has made some pretty good calls lately. He recently predicted that bitcoin could drop as low as its realized price of $24,000. He also mentioned the growing correlation between the S&P 500 and crypto assets. These new updates could also be golden.
Let’s get started with his most recent update. Plan B gives an important update of his famous stock to flow model, which predicts how scarce and valuable bitcoin will be using the total stock and the yearly rate of production, unlike assets like gold. As bitcoin’s total supply is capped at 21 million coins, over 19 million bitcoins have already been mined, with the rest spread between now and 2140. As the date draws closer, bitcoin will become scarcer and as a result, more valuable. Last year, Plan B released model data indicating that bitcoin would average $100,000 during the habbing cycle. So far, the closest we came to that was sixty-nine thousand dollars in November. However, the Pseudomonas analyst has now released an updated version of the chart that predicts a much smaller figure. Here is Plan B’s tweet:
After previously hinting at reworking the model, Plan B has finally done that and arrived at a new prediction for bitcoin during this cycle of a hundred thousand dollars. The independent analyst now believes the crypto asset could remain at an average price of $55,000. In reply to a tweet, Plan B also explains why there was a need to adjust the model:
In response to another tweet, Plan B also explains how he fits the current macro environment into his model. A curious twitter asks if Plan B considers the current macro environment when updating the model, and he replies that the model only has scarcity as an input.
In an earlier tweet, Plan B also predicts that the crypto bear market will soon end, hopefully with a new all-time high. Here is his tweet:
The former institutional investor’s tweet is accompanied by this chart, which shows the RPMA in purple and the RSI in blue. I’d have two important market updates from one of the leading independent bitcoin analysts. On one hand, he sees an average price of $55k and he also believes the bear market is about to come to an end. What do you think about Plan B’s latest updates?
[This article is a transcription of a video made by Savvy Finance]
Original video: https://youtu.be/Go71hBermD0 ]