The expected boom in Bitcoin price after the quadrennial halving is gradually being realized as Bitcoin price moves swiftly from $12,000 to over $15,000 in less than 14 days. Buttressing more on the development, the propounder of S2F Model, pseudonymous analyst PlanB, has updated lovers of his prediction on the state of Bitcoin with his graph model.
PlanB who has no doubt about Bitcoin sojourn to over $100K per unit price, recently posted that it is a great moment to see Bitcoin enter the fifth phase according to his model. He explained that based on the S2F model, Bitcoin fractal has entered the fifth phase in real time; something which he sees as a bullish signal.
PlanB mentioned on Twitter.
While the analyst uses a red dots on the graph of his model as one of the significant bullish signals, he averred that Bitcoin would soon cross this region and become really bullish, turning into other colors like orange.
PlanB believes that there would a gradual succession that would see Bitcoin move from the red dots and turn orange, yellow and green. Afterward, the largest cryptocurrency by market cap would then crawl slowly towards the “S2FX model line (black linear line) and gold.”
With much confidence that Bitcoin price would rise to between $100,000 and $288,000 by December 2021, the prominent analyst recently said Bitcoin is well on its trip to reach the $100K price.
If the price of Bitcoin is to rise to $100,000, the cryptocurrency would have to witness around 540% growth from its current price. In another statement, he elucidated that given the present state of Bitcoin price, there no doubt that Bitcoin bullish cycle is around the corner.
He said he’s 97.5% confident that Bitcoin will upsurg to above $83k, adding that it sounds pretty useful to him considering the $16k per unit value of the cryptocurrency.
Willy Woo Believes Another Main Bull Run has Begun
Just like PlanB, many analysts and crypto icons have also joined in voicing their bullish expectations. Prominent analyst Willy Woo also lends his voice on the present bitcoin bullish rally.
He explained that the next wave of “main bull run” has begun. He furthered that we won’t see the end of the rally until the end of 2021 when Bitcoin price peaks just like it happened in 2017.
Woo, the founder of Woodbull, a statistical resource company, made the assertion in a recent discussion on Twitter, unveiling evidence to back his predictions.
The analysts showcased a Bitcoin relative strength index (RSI) chart which disclosed similarities between the preset run and that of 2017.
He explained in the graph that the green circle is an indication that a macro cycle has begun, and the halving event is providing Bitcoin with a “bullish supply shock impulse.”