While the rally of the leading cryptocurrency Bitcoin, which went up to $ 64,000, has slowed down in recent days, BTC is oscillating between $ 62,000 and $ 61,000.
At this point, while it remains a matter of curiosity whether BTC's rise will continue or not, analyst PlanB, known for his S2F model, said that the accumulation phase in Bitcoin has ended.
Stating that the real bull market started at this point, PlanB claimed that it would no longer be possible to buy BTC easily.
“RED POINT !!
The accumulation phase of Bitcoin is over: There are no more easy buying opportunities in regular and slow-growing markets.
The bull market has begun.
If history is any guide, there will be about 10 months of crazy FOMO, extreme price pumps, and sudden multiple 30% declines.
The fun begins!”
According to Plan B's post, Bitcoin officially enters the Bull market zone with a red dot for the first time since 2021. While this generally marks the beginning of a parabolic move in Bitcoin, it shows that investors should be prepared for a period of high volatility and rapid price fluctuations in the cryptocurrency market.
🔴RED DOT !!
Accumulation phase has ended: no more easy buying opportunities in orderly and slowly increasing markets.
Bull market has started. If history is any guide, we will see ~10 months of face melting fomo: extreme price pumps combined with multiple -30% drops. Enjoy!🚀 pic.twitter.com/8MyZJUSUlb
— PlanB (@100trillionUSD) March 1, 2024
*This is not investment advice.
