A closely followed crypto analyst who accurately predicted Bitcoin’s monthly closing prices says he is expecting the bull market to extend beyond this year.
PlanB tells his 972,800 Twitter followers that he believes Bitcoin is about the kick off the second leg of its bull cycle.
“On-chain analyses finished tonight: In my opinion, we are midway. No sign of weakness (red dot) yet. Note color overlay is not months to halving but an on-chain signal. My guess: this 2nd leg of the bull market will have at least 6 more months to go.”
In July, PlanB unveiled his worst-case scenarios for BTC for the months of August and September where Bitcoin would close at $47,000 and $43,000, respectively. His predictions have been spot on as Bitcoin closed August at $47,417 and concluded September at $43,031, according to CoinGecko.
PlanB now predicts that Bitcoin will ignite huge rallies en route to fresh all-time highs.
“Aug>$47,000
Sep>$43,000
Next targets: Oct>$63,000, Nov>$98,000, Dec>$135,000.”
The widely followed analyst also mentions a number of fundamental catalysts that can push the price of Bitcoin to greater heights in the coming months, including the advancement of micropayment solution Lightning Network (LN), the possibility of adoption by big-tech firms and the deployment of smart contracts via the RSK sidechain.
“What will trigger the next leg of the Bitcoin bull market?
– ETF approval (SEC)
– Nation adoption (next El Salvador)
– LN/Strike surprise (Jack Mallers)
– Apple/Amazon/Google/MS adoption
– RSK killer use case (Blockstream)
– Next Michael Saylor/Paul Tudor Jones
– China U-turn?”
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