Bitcoin Price Closing 2019 Above $10,000 "Wouldn't Surprise" This Crypto Analyst

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Mon, 11/25/2019 - 18:13
Alex Dovbnya
The Bitcoin price could still end this year on a high note, surging above the $10,000 level, says crypto expert Plan B
Cover image via U.Today

Plan B, the anonymous crypto analyst who is famous for creating the stock-to-flow (S2F) model, doesn't rule the possibility of Bitcoin reaching $10,000 before the end of the year.   

He explains that it is a rare situation when the top coin is trading below the S2F model value with only six months left until the next halvening.

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As reported by U.Today, the BTC price increased by ten percent on Nov. 25 after tanking to all the way down to $6,500 on the same day. However, the market is still on the fence, another retest of the above-mentioned level is still very likely. The BTC price is trading at $7,205, CoinStats data shows.

Bitcoin hasn't seen the magical $10,000 price tag since Oct. 25 when it skyrocketed 40 percent on the overhyped China news. The price growth turned out to be a flash in the pan, and BTC got trapped into another major sell-off. 

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Other permabulls are also sure that Bitcoin will not stay below $10,000 for long. Twitter user "hodlonaut," which got famously sued by self-proclaimed Satoshi Craig Wright, believes that four-digit BTC is still "super cheap."

In the meantime, Dan Hedl, director of BD at crypto exchange Kraken, compared Bitcoin's current price action to the massacre that happened in 2015, making a case for hodling BTC.   

 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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