[Bitcoin halving model predictions accumulate; whale activity surges as stablecoin transitions]
Crypto analyst PlanB noted in an article published by He recalled his article on January 12, when he declared that the bear market was over, but was met with skepticism by most users.
A recent article by PlanB shows a Bitcoin market cycle model diagram showing that Bitcoin is in an accumulation phase. This chart shows that the accumulation period began in early January, coinciding with when PlanB declared the end of the bear market.
In a January 12 article, PlanB detailed Bitcoin’s bottom in November 2022, when the price was $15,500. He predicts Bitcoin will overtake short-term holders (STH) and is bullish on the 2024 halving event and subsequent bull run in 2025. Based on on-chain signals, the analyst predicts that Bitcoin’s price will exceed $32,000 when the halving occurs in 2024, and anticipates a bull run of over $100,000 in 2025.
In line with Bitcoin’s accumulation period and impending bull run, DeFi and crypto analyst Patrick Scott highlighted the significant growth in stablecoin transfer volumes.
Citing data from the Artemis crypto metrics platform, Scott noted that transfer volume reached a yearly high this week. Meanwhile, the growth has been fueled by a surge in stablecoins on Solana since December, platform data shows.
Remarkably, December is Solana’s best month. Its native token SOL rose from $59.31 on December 1 to $125.97 on December 25, an increase of 114%. SOL has since pulled back and is currently trading at $96.85, according to TradingView.
