{"id":358165,"date":"2021-10-26T16:48:44","date_gmt":"2021-10-26T13:48:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bull-market-2nd-leg-has-started-says-btc-price-model-creator\/"},"modified":"2021-10-26T16:48:44","modified_gmt":"2021-10-26T13:48:44","slug":"bitcoin-bull-market-2nd-leg-has-started-says-btc-price-model-creator","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bull-market-2nd-leg-has-started-says-btc-price-model-creator\/","title":{"rendered":"# Bitcoin bull market \u20182nd leg has started,\u2019 says BTC price model creator"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3fa89261a70\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3fa89261a70\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bull-market-2nd-leg-has-started-says-btc-price-model-creator\/#An_80_crash_later\" >An 80% crash later<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin bull market \u20182nd leg has started,\u2019 says BTC price model creator   <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) marking a new high of $67,000 last week has opened the possibility of hitting $100,000 by the end of this year.<\/p>\n<p>PlanB, creator of the popular Bitcoin Stock-to-Flow (S2F) model, called Bitcoin\u2019s price retracement from the $60,000-level the \u201c2nd leg\u201d of what <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared like a long-term bull market.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> bull market, 2nd leg has started <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/N9H2QF7SDe\">pic.twitter.com\/N9H2QF7SDe<\/a><\/p>\n<p>\u2014 PlanB (@100trillionUSD) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1452921820051558409?ref_src=twsrc%5Etfw\">October 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>In doing so, the pseudonymous analyst cited S2F, which\u00a0anticipates Bitcoin to continue its leg higher and reach $100,000 to $135,000 by the end of the year. <\/p>\n<p>The price projection model insists that Bitcoin\u2019s value will keep on growing until at least $288,000 per token due to the \u201chalving,\u201d an event that takes place every four years and reduces BTC\u2019s issuance rate by half against its 21 million supply cap.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/bdd01032-ca03-4aa3-aa1d-17f22c361889.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin after the 2012, 2016 and 2020 halving. Source: PlanB<\/em><\/figcaption><\/figure>\n<p>Notably, Bitcoin has undergone three halvings so far: in 2012, 2016 and 2020. <\/p>\n<p>Each event decreased the cryptocurrency\u2019s new supply rate by 50%, which was followed by notable increases in BTC price. For instance, the first two halvings prompted BTC price to rise by over 10,000% and 2,960%, respectively.<\/p>\n<p>The third halving caused the price to jump from $8,787 to as high as $66,999, a 667.50% increase. So far, S2F has been largely accurate in predicting Bitcoin\u2019s price trajectory, as shown in the chart below, leaving bulls with higher hopes that Bitcoin\u2019s post-halving rally will have its price cross the $100,000 mark.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/181eece0-cfa5-48f8-bb68-e1c3192bf3c6.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin S2F as of Oct. 26. Source: PlanB<\/em><\/figcaption><\/figure>\n<p>PlanB noted earlier this year that Bitcoin will reach $98,000 by November and $135,000 by December, adding that the only thing that would stop the cryptocurrency from hitting a six-digit value is \u201ca\u00a0black swan event\u201d that the market has not seen in the last decade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"An_80_crash_later\"><\/span>An 80% crash later<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the high price projections, Bitcoin can still see big corrections in the future. PlanB thinks the next crash could wipe at least 80% off Bitcoin\u2019s market capitalization, based on the same S2F model.<\/p>\n<p><strong><em>Related:\u00a0COVID-19 vaccine will spark Bitcoin \u2018crash\u2019 \u2014 Rich Dad Poor Dad author<\/em><\/strong><\/p>\n<p>\u201cEverybody hopes for the supercycle or the \u2018hyperbitcoinization\u2019 to start right now and that we do not have a big crash after next all-time highs,\u201d the analyst <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=WFKt-w0Qo80\">told<\/a>\u00a0the\u00a0<em>Unchained <\/em>podcast, adding.<\/p>\n<blockquote><p>\u201cAs much as I would hope that were true, that we don\u2019t see that crash anymore, I think we will. [&#8230;] I think we\u2019ll be managed by greed right now and fear later on and see another minus 80% after we top out at a couple hundred thousand dollars.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/6adc7753-9aa0-4b29-b9ff-015686f9fa43.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>But not everyone thinks the next correction will be as dramatic as the previous ones. Dan Morehead, CEO of Pantera Capital, said\u00a0in mid-October that the next Bitcoin price drop will be less than 80%, citing a consistent drop in selling sentiment after each halving cycle.<\/p>\n<p>Last week, Bitcoin\u00a0established a new record high at around $67,000 following a 53% rally in October so far. But the new highs prompted profit-taking among traders, resulting in retests of the $60,000 support level.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bull-market-2nd-leg-has-started-says-btc-price-model-creator\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin bull market \u20182nd leg has started,\u2019 says BTC price model creator &#8221; Bitcoin (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\u2019s price retracement from the $60,000-level the \u201c2nd&#8230;<\/p>\n","protected":false},"author":1,"featured_media":358166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNDYwNmY0NWEtMWQyOC00Zjk4LThiMTEtMGExYjIyZmNlOTlkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81951,78828,74937,74982,74863,78827,74939,75150,75864,73785],"class_list":["post-358165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-halving","tag-bitcoin-price","tag-btc-markets","tag-cryptocurrencies","tag-halving","tag-market-analysis","tag-market-update","tag-supply","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=358165"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/358166"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=358165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=358165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=358165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}