Bitcoin News: According to the well-known name of the cryptocurrency market, PlanB, the Bitcoin bull run is currently only on a pause. The famous analyst expects the leading cryptocurrency Bitcoin to rise above the level of 47 thousand dollars by the last day of August.
Famous analyst PlanB is one of those who believe that the BTC bull run is still not over. According to the analyst, Bitcoin price will rise above the $47,000 level by the end of August. PlanB, the creator of the stock-to-flow model, predicts that the bull run is not over yet, and it could rise more than 40% by the end of August.
Since mid-May, the days have been quite difficult for Bitcoin. The leading cryptocurrency has lost more than 50% in value due to Tesla’s halting of BTC payments and sanctions from China. The vast majority of the crypto market is worried that the scenario of 2018 will happen again. However, PlanB stated that Bitcoin will experience more gains and said in a tweet:
My on-chain data (color overlay in the chart below) tells me this bull is not over and 64K was not the top. That is in line with s2f(x) model. Also my floor indicator (not based on s2f) says we will not go below 47k Aug close. pic.twitter.com/K6Hfjdp26x
— PlanB (@100trillionUSD) July 2, 2021