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PlanB Commented on the (BTC) Rise in Bitcoin! He Revealed the Price Expectation for 2025!
As the trade agreement between the US and China triggers a rise in Bitcoin, the biggest question on everyone's mind is "will the rise continue?".
Bitcoin's recent V-shaped recovery, which has risen above 104,000 dollars, has increased bullish expectations, while there was also an updated assessment from analyst PlanB, known for the S2F model.
PlanB stated that it did not indicate the end of the given cycle, but rather gave a rise signal. The analyst expects Bitcoin to surpass its previous ATH of nearly 110,000 dollars and set a new record very soon, based on historical patterns.
At this point, the analyst predicts that several new peaks will likely come one after another.
PlanB, indicating that the Bitcoin RSI is currently at 66, stated that the RSI will rise above 80, as seen in previous bull runs, in the coming months and will remain at these levels for a while.
The analyst noted that this prediction aligns with the S2F model suggesting Bitcoin could reach $500,000 at the end of its current halving cycle, stating, "The 200-week moving average rose from $46,000 to $47,000, indicating increasing market confidence and possibly signaling the start of the FOMO phase."