Bitcoin, which could not hold on above $ 38,000, is just above $ 37,000 after the decline it has experienced in recent days.
While investors are having a dilemma about whether BTC will fall again and its price, a Bitcoin post that will please investors came from the popular cryptocurrency analyst Plan B.
Cryptocurrency analyst PlanB, who popularized the Bitcoin stock-to-flow model (S2F), which came to prominence for correcting several price predictions of BTC during the previous bull run, claimed that Bitcoin will never fall below $35,000 again.
At this point, Plan B, sharing through account X, established a connection between the value of BTC and its hashrate.
Stating that Bitcoin rose to $ 35,000 yesterday on the basis of difficulty (hash rate), the popular analyst said that, except for possible short-term fluctuations, this valuation may mean that BTC will never fall below $ 35,000 again.
“Bitcoin valuation based on difficulty (hash rate) rose to $35,000 yesterday.
“IMO, this could mean BTC will never fall below $35k again based on $/kWh arbitrage fundamentals, barring possible black swans or short-term fluctuations.”
🚨BREAKING: Bitcoin valuation based on difficulty (hashrate) increased to $35k yesterday. IMO this could mean that, apart from possible black swans or short term volatility, based on $/kWh-arbitrage fundamentals … BTC will never go below $35k ever again. pic.twitter.com/JPLkXieQAP
— PlanB (@100trillionUSD) November 27, 2023
*This is not investment advice.
