PlanB – This is Why $69K Was Not The Top of This Bitcoin Cycle
PlanB on why he (and many others, including myself) believe $69K was NOT the top for this halving cycle
This is Why $69K Was Not The Top of This Bitcoin Cycle, PlanB Exlains
“However, PlanB doesn’t think so. The popular anonymous analyst, perhaps best known as the creator of the stock-to-flow model, recently asserted that a typical bear market means an 80% correction. In other words, this would put BTC’s price at $14,000, which is below the 2017 ATH of $20,000 and, more importantly, below the 200 weekly moving average.
As the chart below demonstrates, bitcoin has never dropped below the 200WMA, and PlanB believes it ‘will never happen.’”