This analyst called Bitcoin’s new price high in 2020 three months ago
Preston Pysh saw "insane" gains for the rest of this year in August, with Bitcoin just $2,000 off record levels three months later. Bitcoin (BTC) hitting new all-time highs by Christmas is beginning to look conservative, but one analyst called current levels back in August.As noted by consumer investment service Swan Bitcoin on Nov. 18, the co-founder of The Investor’s Podcast Network, Preston Pysh, predicted 90% end-of-year returns for BTC/USD when the pair traded at $11,400.Pysh: 2020 gains could be “insane”“You should be making a new all-time high by Christmas 2020. That means we’ve got....
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Is Bitcoin’s bull run over? This crypto analyst doesn't think so. Bitcoin’s (BTC) price has declined over the past day or so, falling from highs above $60,000 to below $50,000. That, however, does not necessarily mean the asset’s bull run is over, according to a well-known crypto analyst, PlanB. “Nothing goes up in a straight line,” PlanB said in a Tweet on Friday. “#Bitcoin has gone up 6 months in a row, until this month. This looks like the mid-way dip that we also saw in 2013 and 2017.”PlanB is known in the crypto industry for his Bitcoin Stock-to-Flow, or S2F, model. The model....
This month, the price of bitcoin sank below the $60K zone this month after reaching an all-time high (ATH) at $69K per unit. The pseudonymous bitcoin analyst and the creator of the bitcoin price model called stock-to-flow (S2F), Plan B, called the last three months of bitcoin prices correctly but the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the recent bitcoin price drop, Plan B still seems confident bitcoin’s price is “on track towards $100K.”
Plan B’s Bitcoin Price Prediction for November Misses....
Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin’s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community. Analysts and traders have reassured investors that the market fluctuations are a normal part of the journey. Some urge the community to look at the bigger picture, as altcoins remain above levels not seen in years. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment “Down”? Renowned crypto analyst Altcoin Sherpa....
Experts weigh in on the main events from 2020 that impacted Bitcoin’s price the most. From the COVID-19 pandemic to mass-scale money printing and social unrest, 2020 was a wild year. Alongside a barrage of newsworthy events, Bitcoin (BTC) also turned in a standout year in the price category, ultimately rising from $3,600 to past $41,950, besting its 2017 all-time high of $19,892. A number of events, both crypto-specific and mainstream, appeared as catalysts for Bitcoin’s price action. Several crypto industry players weighed in on the events they believe affected BTC’s price action the most....
The senior commodity strategist is bullish on Bitcoin, revealing on Oct. 18 that its relative discount to hash rate has hit levels not seen since the first quarter of 2020. Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin's (BTC's) relative discount to its high hash rate in October — the largest since the first quarter of 2020 — could soon see Bitcoin return to "its propensity to outperform most assets."In an Oct. 19 Twitter post, the Bloomberg analyst suggested that Bitcoin's ever increasing hash rate — a measure of the processing power and security of a....