The crypto market is making efforts to recover following the more recent losses. Check out the following reports revealed by the analyst PlanB.
PlanB reveals BTC orders
He posted on Twitter that he’s seeing some relevant orders of magnitude. Here’s the post that he shared on his social media account.
Stairway to heaven … adding orders of magnitude🔥 pic.twitter.com/rOmtTyo3Fg
— PlanB (@100trillionUSD) October 6, 2022
Someone commented the following: “Did you coin that term? Cause that was the first thing I thought when first looking at this when published on medium years ago.”
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $20,168.
PlanB accumulates Bitcoin
Popular quantitative analyst PlanB says he is buying Bitcoin (BTC) again. He also highlights data trends suggesting the king crypto may be gearing up for a surge.
PlanB made sure to say on Twitter not too long ago that he is seizing the opportunity to purchase the leading crypto as he has done at other times after significant price declines.
“My first Bitcoin investment was in 2015 at ~$400 (yellow circle). Most people said Bitcoin was dead. My second investment was in 2018 at ~$4000 when I published the S2F (stock-to-flow) model. Most people said Bitcoin was dead. My third investment is now at ~$20,000. Most people say Bitcoin is dead.”
According to PlanB, BTC’s move below the two key indicators could present a once-in-a-decade opportunity for Bitcoin bulls. Here’s what he explained:
“Bitcoin below 200-week moving average ($23,000) and realized price ($21,000). Structural break of a 10-year+ trend, or temporary macro-driven buying opportunity?”
In other news, not too long ago, the important analytics firm Santiment says Bitcoin (BTC) holders have pulled tens of thousands worth of BTC from crypto exchanges in just one day, according to the latest reports. This shows massive confidence.
Santiment said that on the last day of September, “crypto exchanges witnessed a massive exodus of crypto to the tune of $683.42 million in BTC, the fourth largest of the year.”