PlanB is bullish and this is what he says about Bitcoin in the short term

You may have heard of PlanB, a well-known figure in the crypto community. PlanB is particularly known for his Stock-to-Flow model, which he introduced in 2019. This model was able to accurately predict the price of Bitcoin for a while. However, in recent months, the model hasn’t been as accurate. Despite this, PlanB continues to share interesting charts and insights on the crypto market.

Recently, PlanB has been bullish on the short-term prospects for Bitcoin. He has noted that sellers are now taking profits, as opposed to earlier this year when they were still taking losses. This change in behavior is significant as it suggests that the market may be turning bullish again.

PlanB also suggests that we may be at the start of a new bull market for Bitcoin. He has noted that usually, the market tends to move from blue to green, and then to yellow, orange, and red, before reaching a new all-time high. He also added a rocket emoji at the end of his message, which is often used to indicate a rising market.

PlanB’s next target for Bitcoin is $32,000. This is the 2Y realized price, which represents the average price at which Bitcoin has been sold over the past two years. He believes that now that the Realized Price has been broken, it’s time to target this line.

In 2021, he predicted that the price of Bitcoin would reach $100,000, which, as we know, did not happen. The biggest lesson we can learn from this is that it’s extremely difficult to predict the price of Bitcoin on a short-term basis. Therefore, it’s important to take PlanB’s predictions as possible scenarios, but not as gospel truth. It’s always a good idea to do your own research and make informed decisions when it comes to investing in Bitcoin or any other cryptocurrency.