PlanB predicts the timeline for a new Bitcoin all-time high and says BTC will not fall below this minimum price
Widely followed analyst PlanB predicts the schedule will spark a rally for Bitcoin (BTC) to new all-time highs.
In a new video update, the quant analyst tells his 96,300 YouTube subscribers that based on Bitcoin's 200-week moving average, BTC will likely never fall below $31,000 again.
“Historically, when Bitcoin deviates from the moving average line, [it] will not fall below that limit, so that could mean – not a guarantee – but it could mean, this is also my opinion, that we will not go below $31,000 again. At the moment it's kind of like the ground.
The nice thing about this is that this floor is going up, because as you can see, the 200-week moving average keeps going up, it keeps going up, so next month it's not going to be $31,000, it's going to be $32,000 or $35,000. Dollar.”
PlanB goes on to say that the top crypto asset by market cap is likely to hit a new all-time high in the fourth quarter of this year before eventually crashing.
“After the 90% [orange dots] always comes 100% [red dots], the new all-time high. So that means that we [will] In my opinion, there will be another all-time high before another crash, and usually that is six months after the halving, so in October [of] This year we could see a new all-time high.”
Source: PlanB/YouTube
The next BTC halving is scheduled for April and will result in miners' Bitcoin rewards being halved.
Bitcoin is trading at $42,860 at the time of writing, down slightly in the last 24 hours.
Don't miss a thing – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Check out the latest headlines
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct their due diligence before making any risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Midjourney
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.