{"id":159535,"date":"2021-05-22T17:30:17","date_gmt":"2021-05-22T12:00:17","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=159535"},"modified":"2021-05-22T11:03:50","modified_gmt":"2021-05-22T05:33:50","slug":"analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\/","title":{"rendered":"Analyst on Bitcoin: &#8216;I don&#8217;t think $60K was the top, far from it&#8230;&#8217;"},"content":{"rendered":"<p>The recent crypto market crash saw various coins <a href=\"https:\/\/www.businesstoday.in\/markets\/commodities\/crypto-in-free-fall-bitcoin-tanks-30-to-31000-ethereum-loses-40-dogecoin-down-45\/story\/439508.html\">plummet<\/a> by double-digits. The largest crypto by market capitalization, BTC, saw a fall of around 30%, followed by ETH which fell by 40%. Even Dogecoin saw a decline of around 45%. Many traders asked the same question -Is it time to <a href=\"https:\/\/twitter.com\/StockbitMy\/status\/1395626155516973057\">sell<\/a>? Well, many of them already did, as the selling pressure on various exchanges increased significantly.<\/p>\n<p>However, many bitcoin proponents didn&#8217;t let panic-sell take over the HODL strategy. Renowned analyst, PlanB, known for his contribution towards the S2F model, still projects BTC&#8217;s price to surpass the $100k mark and even further despite the recent dip.<\/p>\n<p>PlanB expressed his optimism about BTC in <a href=\"https:\/\/www.youtube.com\/watch?v=bG9f9n48ybU&amp;t=3081s\">conversation<\/a> with &#8216;The Wolf&#8217;, Scott Melker.<\/p>\n<p>PlanB opined about his Stock-to-flow model which actually supported his price projections. He stated:<\/p>\n<blockquote><p>&#8220;It&#8217;s more accurate than I could have dreamed&#8230; Currently it is tracking like a train- S2F model shows Bitcoin reaching $100,000 and the model has Bitcoin jumping past $288,000 before the next bear market hits.&#8221;<\/p><\/blockquote>\n<figure id=\"attachment_159542\" aria-describedby=\"caption-attachment-159542\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM.png\"><img decoding=\"async\" class=\"size-large wp-image-159542\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM-1024x585.png\" alt=\"\" width=\"740\" height=\"423\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM-1024x585.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM-300x171.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM-768x439.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM-1536x878.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-21-at-2.24.38-PM-2048x1170.png 2048w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-159542\" class=\"wp-caption-text\">Source: PlanB <a href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1357638054815621122\">Twitter<\/a><\/figcaption><\/figure>\n<p>He even recently tweeted regarding the same:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Just to be clear: I do not think $60K was the top, far from it, because I do not see the kind of transactions that normally happen after an ATH (red dots). In fact, I think we are just a couple of months out of the bear market (blue dots). And yes, this on-chain view fits S2F(X). <a href=\"https:\/\/t.co\/omLh23MsrX\">pic.twitter.com\/omLh23MsrX<\/a><\/p>\n<p>&mdash; PlanB (@100trillionUSD) <a href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1394709269434535937?ref_src=twsrc%5Etfw\">May 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He also commented:<\/p>\n<p>https:\/\/twitter.com\/100trillionUSD\/status\/1394720869788815365<\/p>\n<p>On the topic of the Bitcoin bear market, he reiterated,<\/p>\n<blockquote><p>&#8220;A\u00a0bear market is possible &#8211; as low as $100k to $200k maybe below where it\u00a0could see 80-85% retracement like previous cycles&#8221;<\/p><\/blockquote>\n<p>He also addressed the price targets after the next BTC halving in 2024; he said:<\/p>\n<blockquote><p>&#8220;Post halving, 2025 onwards is gonna be interesting. S2F model predicts BTC price from $1 million as per the S2F model and $S2FX model says $5million.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The recent crypto market crash saw various coins plummet by double-digits. The largest crypto by market capitalization, BTC, saw a fall of around 30%, followed by ETH which fell by 40%. Even Dogecoin saw a decline of around 45%. Many traders asked the same question -Is it time to sell? Well, many of them already<a href=\"https:\/\/ambcrypto.com\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\/\">Continue reading <span class=\"sr-only\">&#8220;Analyst on Bitcoin: &#8216;I don&#8217;t think $60K was the top, far from it&#8230;&#8217;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":68,"featured_media":79590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,35,360,66,3,4,20],"tags":[],"class_list":["post-159535","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Analyst on Bitcoin: &#039;I don&#039;t think $60K was the top, far from it...&#039; - AMBCrypto<\/title>\n<meta name=\"description\" content=\"\u00a0The recent crypto market crash saw various coins plummet to a double-digit share. Here, the largest crypto coin, BTC saw a free fall of around 30%, followed by ETH by around 40%. Even the party popper, DOGE, saw a decline of around 45%. Various enthusiasts have asked the same question over and over again, Is it time to sell? Well, many of them already did, as the selling pressure on various exchanges increased significantly.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst on Bitcoin: &#039;I don&#039;t think $60K was the top, far from it...&#039; - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"The recent crypto market crash saw various coins plummet by double-digits. The largest crypto by market capitalization, BTC, saw a fall of around 30%,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-22T12:00:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2019\/04\/balloon-1373161_1280-e1554362883869.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"506\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shubham Pandey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/crypto_shubham\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shubham Pandey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/\"},\"author\":{\"name\":\"Shubham Pandey\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/7710783316829dfc843195d4eafda9e4\"},\"headline\":\"Analyst on Bitcoin: &#8216;I don&#8217;t think $60K was the top, far from it&#8230;&#8217;\",\"datePublished\":\"2021-05-22T12:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/\"},\"wordCount\":284,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/balloon-1373161_1280-e1554362883869.jpg\",\"articleSection\":[\"Altcoin\",\"Bitcoin\",\"BTC Trading View\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/#respond\"]}],\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/\",\"name\":\"Analyst on Bitcoin: 'I don't think $60K was the top, far from it...' - AMBCrypto\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/analyst-on-bitcoin-i-dont-think-60k-was-the-top-far-from-it\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/balloon-1373161_1280-e1554362883869.jpg\",\"datePublished\":\"2021-05-22T12:00:17+00:00\",\"description\":\"\u00a0The recent crypto market crash saw various coins plummet to a double-digit share. 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