Bitcoin News

Creator of the accumulation model to flow: There are 6 months left until the end of the uptrend!


A leading digital currency market analyst who has previously been able to accurately predict the monthly price of bitcoin has said he expects the bullish market to continue after the end of 2021.

to the Report Daily Hoodel, the creator of PlanB (S2F) accumulation model, said in a tweet to his 972,800 followers that he believes Bitcoin is on the verge of starting the second phase of its uptrend.

The creator of the accumulation model told the stream:

In-chain data analysis ended tonight. I think we are in the middle of the road. No sign of weakness (or red dot inside the chart) has been seen yet. Note that stacking colored dots does not mean the formation of a Halving event in a month, but it can be a sign within the chain. My guess is that the second phase of the bullish market will continue for at least another 6 months.

Plan B in July (July), referring to the worst-case scenario for Bitcoin in the coming months, said that the monthly candle of this digital currency in August (August) and September (September) in the range of $ 47,000 and $ 43,000, respectively. The dollar will close. As the creator of the accumulation model told the stream, the price of Bitcoin finally reached $ 47,417 in August (September) and the monthly Kendall closed in September (September) at $ 43,031.

Plan B now predicts that Bitcoin will continue its uptrend to reach a new historical high.

He, who had correctly predicted the closing price for August (September) and September (September) above $ 47,000 and $ 43,000, said that the October candle (October) will close above $ 63,000. Plan B forecasts for the final price of November (November) and December (December) are higher than $ 98,000 and $ 135,000, respectively.

The analyst also pointed to fundamental factors that could accelerate the uptrend and push the price of bitcoin to its peak in the coming months.

Expansion of Lightning network, acceptance of bitcoin by large technology companies, launching smart contracts through RSK side chain, approval of Bitcoin exchange traded funds (ETF) by the US Stock Exchange Commission, acceptance of bitcoin by different countries, support Lightning on the Strike platform, the activities of Blockstream, the entry of a figure like Michael Saylor into the Bitcoin market, and China’s return to the days before the ban on digital currencies are some of the stimulus plans. Next is the bitcoin uptrend.

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