It’s been revealed that the analyst who applied stock-to-flow model to Bitcoin said that the king coin’s bull market is just getting started. This is reportedly happening despite the recent struggle to remain above $60k.
In a new tweet, Plan B said that he believes BTC’s current boom cycle is far from over now.
“In my opinion, we are only about 4 months into the bull market and nowhere near the end of it. Bitcoin is just getting started,” he said.
It’s been revealed that the quantitative analyst looked at Bitcoin’s historical performance in terms of momentum to support his argument.
IMO we are only ~4 months into the bull market and nowhere near the end of it .. #bitcoin is just getting started pic.twitter.com/6n0B15rqyB
— PlanB (@100trillionUSD) March 26, 2021
PlanB said that BTC’s relative strength index (RSI), which measures the pace of price movements for a given asset, has not yet reached its peak.
“Bitcoin monthly RSI is not even 95. In 2011, 2013 and 2017 bull markets we had at least 3 months above 95. Still early.”
He said that BTC is still facing some hardships these days.
Correct. IMO markets are not completely rational and thus will not front-run next halving cycle or the S2F model, greed and fear will take over from ratio at some point. There are also some real risks left (goverment ban, quantum computing) that have to be dealt with.
— PlanB (@100trillionUSD) March 26, 2021
Someone else said:
That’s the one. Coming up with quantum-resistant crypto requires only mathematics, coming up with quantum computers requires a lot of mojo. She’ll be just fine.
— psn (@psnbtc) March 27, 2021
Check out the complete thread on Twitter in order to learn more details.
In other news, Gemini’s Tyler Winklevoss shared a tweet saying that the US government will not be banning Bitcoin.
The US government will never ban #bitcoin. These questions have been asked and answered by regulators and courts for the last decade. This ship has sailed.
— Tyler Winklevoss (@tyler) March 27, 2021
Stay tuned for more news.
