Bitcoin is experiencing an unprecedented phenomenon: the price has been stuck in the $60,000 to $70,000 range for eight months without breaking out. This has never happened in any previous bull market cycle.

So what is the cause?

According to PlanB - an analyst famous for the Stock-to-Flow model, the main reason is the uncertainty from the US election in November. đŸ‡ș🇾

Large investors (“whales”) are sitting on the sidelines, waiting for the election results before they invest. 🐳 This creates a “barrier” in the market, preventing Bitcoin price from breaking the current limit.

PlanB's prediction on Bitcoin:

  • October: Bitcoin crosses $70,000 mark.

  • November: If Trump wins, price hits new high.

  • December: ETF Inflows Could Push Price to $150,000. 🚀

The good news is that we only have a month left to see if this becomes a reality! 🎉

What do you think about PlanB's prediction? Will Bitcoin really hit $150,000 by the end of this year?

#Write2Win #bitcoin☀ #BTC☀