Popular blogger and analyst PlanB announced the beginning of the FOMO period – a bull market, according to his Stock-to-Flow model.
🔴RED DOT !!
Accumulation phase has ended: no more easy buying opportunities in orderly and slowly increasing markets.
Bull market has started. If history is any guide, we will see ~10 months of face melting fomo: extreme price pumps combined with multiple -30% drops. Enjoy!🚀 pic.twitter.com/8MyZJUSUlb
— PlanB (@100trillionUSD) March 1, 2024
“The accumulation phase is over: there are no more easy buying opportunities in orderly and slow-growing markets. The bull market has begun,” he wrote.
According to the expert, the digital asset market is expecting approximately 10 months of FOMO: “extreme price surges combined with multiple drops of 30%.”
Bitfinex analysts called Bitcoin’s conservative target a level of $100,000 to $120,000, which it will reach by the fourth quarter of 2024, writes Cointelegraph. Experts believe that the peak of the cycle will occur in 2025.
In early February, PlanB stated that after the upcoming halving, the first cryptocurrency will become scarcer than gold and real estate, which implies reaching $500,000.
Earlier, Galaxy Digital CEO Mike Novogratz allowed Bitcoin to correct before updating its all-time high. He also noted the high level of leverage in the market.
Let us remind you that technical analyst and head of Factor LLC Peter Brandt raised his forecast for the rate of digital gold in 2025 from $120,000 to $200,000.
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2024-03-02 10:42:46
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