The pseudonymous crypto analyst Plan B says that, barring a black swan event, all the indicators point to a bright future for Bitcoin (BTC) in the coming months.
In a YouTube interview with Blockware Intelligence, the quantitative analyst lays out the case for why he thinks numerous Bitcoin metrics look so positive.
“At the risk of being called a moonboy, all the signals, whether you look fundamentally, like stock-to-flow [S2F] for example or on-chain, realized cap or other metrics, or in the news, the macro news, the number of countries that are opening up to Bitcoin. Everything is positive.”
Plan B is known for applying the stock-to-flow (S2F) model, which is traditionally used in commodities markets and compares an asset’s supply to the rate at which it’s being produced, to Bitcoin. While Bitcoin has recently underperformed relative to Plan B’s S2F model, the analyst says big rallies are still in the cards for the flagship crypto.
The trader says that while the possibility of the unexpected remains that might derail BTC’s next rally, he’s keeping his eye on when Bitcoin futures premiums start to rise as an indication that the next rally has begun.
“Of course, there can be a black swan. Of course, something can happen that we haven’t seen in the past or that is a real black swan, but volatility is low, the futures premium is low.
I watch that like a hawk. If that will go up again – if the leverage will enter the market again.”
Plan B concludes his remarks by saying he believes right now is an ideal opportunity for Bitcoin investors to load up their bags.
“The dormant coins, the people in profit, the people in loss, I can’t imagine unless a black swan, any other scenario that this is one of the best buying opportunities that we have seen in the entire history of Bitcoin.
It’s compatible to the beginning of 2016, 2011, 2013, or 2012 even. The beginning of the bull run.
I know that sounds like moonboy stuff, but that’s how I look at it.”
Back in March, the trader presented a scenario where Bitcoin could skyrocket close to $300,000 sometime this year.
At time of writing, Bitcoin has bounced nicely after falling below the $40,000 level on Sunday, currently up a percent on the day and trading for $41,430.
I
Check Price ActionDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Digital Store
