Just a stop in the middle of the cycle?
As the chart above suggests, the primary cryptocurrency has seen similar sharp price corrections during its previous two main bull cycles – in 2013 (after the first halving) and in 2017 (after the second).
In addition, both appeared at about the same time as the bitcoin bull run, which PlanB called a “half-way drop.” If Bitcoin were really in the middle of its bullish cycle now, it could actually be moving towards the price targets of a revised stock-to-flow model. PlanB still believes that Bitcoin could reach the end of the current bull run worth $ 288,000 for coins.
Conclusion
For more than $ 280,000 per Bitcoin, for many at a time when the price is around $ 49,000, the price is unimaginable, and for this optimistic forecast to materialize, BTC would have to grow about six times, which, given the current negative sentiment, sounds like pulled by the hair. But don’t forget that Bitcoin has shown it to us in its history, when it traded for $ 10,000 in early October and we saw a price of $ 65,000 in April.
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