Renowned crypto analyst PlanB, known for his optimistic outlook on Bitcoin and the stock-to-flow model, has issued a warning on X, suggesting that these could be the final days to acquire Bitcoin below the $40,000 mark. The analyst highlights strong bullish indicators, particularly focusing on Bitcoin’s realized price, indicating an imminent significant price surge.
Bitcoin has demonstrated exceptional price performance throughout the year, boasting a growth of over 125%. Analysts, including PlanB, share the sentiment that this upward trend may persist. PlanB, in particular, draws attention to the realized price model, proposing that the current sub-$40,000 level might be a fleeting opportunity.
Realized Price Insights
Realized price, reflecting the average cost of all circulating Bitcoin, is considered by some as a more accurate measure of Bitcoin’s value than the prevailing market price. During bearish markets, the realized price tends to surpass the spot price, while bullish markets are characterized by a higher spot market price. PlanB’s analysis indicates that Bitcoin’s spot price now surpasses the overall realized cost, the 2-year realized price, and the 5-month realized price. This historical pattern suggests the potential for a substantial upward movement.
Last Call for Affordable Bitcoin
Bitcoin (BTC) is currently trading at $37.687. Chart: TradingView.com
As of the latest data, Bitcoin is trading at $37,687, with its realized price around $21,000, according to Glassnode. PlanB neither confirms nor denies the possibility of another opportunity to purchase Bitcoin at a lower price, emphasizing the potential for Bitcoin to trade between $100,000 and $1 million around the next halving cycle.
Anticipation for Mainstream Adoption
NEW: Grayscale Bitcoin Trust’s discount to the #Bitcoin price is closing fast – from 48% to just 7.3%.
The smallest gap since July, 2021.
Institutions buying? 👀 pic.twitter.com/hDnAM0BxKG
— Bitcoin Archive (@BTC_Archive) November 24, 2023
PlanB’s forecast aligns with the general optimism surrounding Bitcoin, especially as the industry anticipates the approval of spot Bitcoin ETFs in the United States. CoinShare‘s recent report notes year-to-date inflows of $1.238 billion into Bitcoin’s digital asset investment products. Additionally, the discount on Grayscale‘s Bitcoin Trust has significantly decreased, signaling institutional interest amid a growing bullish momentum.
