Bitcoin may not stop at $100k, or even $200k during this cycle
PlanB thinks bitcoin is going to go higher than most people think
Some people are thinking bitcoin will peak around $100k, while I am not one of them I do see the possibility.
The first post halving bull market peaked 13 months post halving, and the second peaked 17 months post halving.
If we peaked 13 months, that would put us peaking in June of this year, and if we peaked 17 months, that would put us peaking in October of this year.
However, given the strong season patterns at the end of the year, some think bitcoin won't peak until end of the year, even though that would put this pattern longer than the previous ones.
PlanB is one of those believers:
(Source: https://twitter.com/100trillionUSD/status/1372140708073705473/photo/1)
As of right now:
December close: $28,992
January close: $33,141
February close: $45,240
March 17 price: $55,000
Based on his model we are only about 4 months into the bull market phase.
I am assuming he counts the bull market from the time we break the old highs.
Based on these numbers and past patterns, PlanB thinks we are going to hit $288k during this cycle.
I'm not sure we get that high, but we certainly could, especially if this cycle lasts longer than previous ones.
I personally think the most important thing to remember and consider about Bitcoin, is the fact that it is a commodity, like money, while staking it or exchanging it can earn people money, the most important aspect of it is that it gives people control and power over commerce.
$288K would be insane I don't see that happening because every day people balk at the price of BTC now.....they chase Cardano and other lower priced assets like DOGE. There is a certain lure for people to own and entire Bitcoin which is going to become a bigger and bigger deal as time goes on but......I don't know..... I figure if I remain relatively conservative and gravitate into the stablecoins and then earn off of them at a good rate. I'm seeing some people with some baller amounts of cash in some of these DeFi platforms...... it is honestly kind of insane.