Bitcoin Stock-to-Flow (S2F) model creator and analyst PlanB has identified a level which he believes Bitcoin (BTC) will never go below again. According to the controversial analyst, BTC is “highly unlikely” to ever move below $33,000, which is also its 200-week moving average. This prediction applies to post-halving slumps and subsequent bear markets.
Bitcoin had just recovered from the losses incurred by investors selling the news after the United States Securities and Exchange Commission approved the launch of spot Bitcoin exchange-traded funds (ETFs). The cryptocurrency had reached $45,000, and PlanB said a plunge to sub-$40,000 levels may not be seen again. To substantiate his claims, the analyst has outlined Bitcoin’s realized prices on different scales: 2-year and 5-month realized prices of $32,000 and $40,000, respectively, and an overall price of $23,000. Since Bitcoin’s rally had pushed it above all the realized prices, it was unlikely that the asset would fall below $40,000
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