Bitcoin Analyst Predicts BTC Will Never Drop Below $33,000 Again
In a recent analysis, Bitcoin Stock-to-Flow (S2F) model creator and analyst PlanB has revealed a significant level that he believes Bitcoin (BTC) will never fall below again. According to PlanB’s findings, BTC is unlikely to move below $33,000, which also coincides with its 200-week moving average. This prediction encompasses post-halving slumps and subsequent bear markets.
- PlanB’s analysis differs from his previous prediction in early February where he believed BTC may not drop below $40,000, which was its five-month realized price.
- During that time, Bitcoin had just recovered from losses due to investors selling after the approval of spot Bitcoin ETFs by the SEC, reaching $45,000.
- PlanB indicated Bitcoin’s realized prices on various scales, including 2-year and 5-month realized prices of $32,000 and $40,000, respectively, along with an overall price of $23,000.
Adjusted Predictions and Floor Prices
Given the evolving on-chain dynamics and the persistence of the bull market, PlanB has adjusted his predictions, stating that BTC will not dip below $33,000. The overall realized price has increased to $29,000, while the 2-year and 5-month realized prices now stand at $44,000 and $60,000, respectively. PlanB has labeled these figures as the conservative and aggressive floors, indicating levels that Bitcoin does not drop below during bull markets.
- Trader Alan, a pattern analyst, also shared a similar sentiment in March, suggesting that BTC would hit a “never come back line” this month.
- He pointed out that Bitcoin would not revisit the $60,000 level, aligning with PlanB’s 5-month realized price prediction.
Evaluating PlanB’s Analysis
While PlanB’s Stock-to-Flow analysis has been fairly accurate in the past, some members of the crypto community have questioned its reliability due to occasional failures. The upcoming months will ultimately determine the accuracy of PlanB’s latest predictions concerning Bitcoin’s price floor.