Daily Trade News

Bitcoin bull market ‘2nd leg has started,’ says BTC price model



© Reuters.

(BTC) marking a new high of $67,000 last week has opened the possibility of hitting $100,000 by the end of this year.

PlanB, creator of the popular Bitcoin Stock-to-Flow (S2F) model, called Bitcoin’s price retracement from the $60,000-level the “2nd leg” of what appeared like a long-term bull market.

Bitcoin after the 2012, 2016 and 2020 halving. Source: PlanB
Bitcoin S2F as of Oct. 26. Source: PlanB
daily price chart. Source: TradingView