Bitcoin Price Will Never Dip Below $35K Again: PlanB Reveals His Bullish Call

This is something that’s bound to interest you! A noteworthy prediction has emerged from the creator of the widely-used Stock-2-Flow (S2F) model. PlanB, known for accurate market calls, confidently declares that Bitcoin’s value is on the brink of a significant surge, emphasizing that it won’t dip below $35,000 again. PlanB’s reputation as a crypto oracle lends weight to this daring assertion.

Connecting the Dots

In a recent reveal on X, PlanB supports his prediction with an in-depth analysis, tying Bitcoin’s value to its hashrate. Through a clear chart, he illustrates a consistent upward path for the leading digital asset. This connection between these factors is a key pillar of his optimistic outlook.

Despite acknowledging potential bumps like black swan events or short-term swings, PlanB stands firm that $35,000 will be an unwavering support level for Bitcoin. This steadfast belief in the crypto’s resilience echoes through his prediction, showcasing confidence that goes beyond momentary market shifts.

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Understanding the ETF Impact

Further delving into the dynamics of arbitrage, PlanB highlights the fascinating interplay between Bitcoin miners acquiring the asset with electricity and users purchasing it with cash on exchanges. He anticipates a deepening of this arbitrage, especially with the imminent ETF launch.

PlanB suggests that the introduction of an Exchange-Traded Fund (ETF) could amplify existing arbitrage dynamics. Miners might potentially charge a premium for the cryptocurrency based on their unique market insights.

Even influential figures like Cathie Wood from Ark Invest are expressing optimism. Known for bullish predictions, Wood suggests that a Bitcoin ETF approval could push the cryptocurrency’s value to an impressive $600,000 and beyond.

Also Read: Bitcoin (BTC) Price Can Hit $50k in Next 60 Days If This Happens

Proven Prophecies: PlanB’s Credibility

With a history of accurate predictions, PlanB’s latest forecast gains added credibility. Firm in the belief that a $100,000 Bitcoin is on the horizon, he broadens the outlook, envisioning a potential trading range between $65,000 and an astonishing $524,000 in the near future.

As of the latest update, Bitcoin is trading at $37,006.80, showing a 1.07% decrease in the past 24 hours, according to Coinpedia. Investors are closely watching as the cryptocurrency navigates this turbulent period, eagerly anticipating the bullish future PlanB has foreseen for Bitcoin.