{"id":562402,"date":"2023-11-25T13:20:13","date_gmt":"2023-11-25T13:20:13","guid":{"rendered":"https:\/\/wncen.com\/?p=562402"},"modified":"2024-06-11T08:12:22","modified_gmt":"2024-06-11T08:12:22","slug":"analyst-sounds-warning-this-might-be-your-last-chance-to-buy-bitcoin-below-40000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-sounds-warning-this-might-be-your-last-chance-to-buy-bitcoin-below-40000\/","title":{"rendered":"Analyst Sounds Warning: This Might Be Your Last Chance To Buy Bitcoin Below $40,000"},"content":{"rendered":"

Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term for Bitcoin. According to the analyst, we might be in the final days of Bitcoin below $40,000.\u00a0<\/span><\/p>\n

PlanB made a call to action based on his analysis of Bitcoin’s realized price, as all signs point to Bitcoin going on a strong price surge very soon.<\/span><\/p>\n

Enjoy Sub-$40,000 Bitcoin While It Lasts<\/b><\/h2>\n

Bitcoin has outperformed<\/span><\/a> other asset classes in terms of price performance this year. Price data shows the cryptocurrency is currently up more than 125% this year, and many analysts think this <\/span>growth isn’t stopping soon<\/span><\/a>.<\/span><\/p>\n

Related Reading: BLUR Token Rules Today\u2019s Top 100 Crypto Ranking With 88% Rally \u2013 Details<\/a><\/div>\n

Crypto analyst PlanB is also of this <\/span>continued bullish sentiment<\/span><\/a>. According to his analysis of the realized price model, this could be the last chance to buy Bitcoin under $40,000. Realized price refers to the average price of all Bitcoin currently in circulation. Some experts argue this is a better measure of Bitcoin’s value than the current market price.\u00a0<\/span><\/p>\n

Bearish markets are usually characterized by a higher realized price than the spot price of Bitcoin. Bullish markets, on the other hand, are characterized by a higher spot market price. A look at the realized price shared by the analyst shows that the spot price of Bitcoin is now trading above the overall realized cost price, the 2-year realized price, and the 5-month realized price. If history is any guide, the market price could be headed significantly higher from here.\u00a0<\/span><\/p>\n

\u201cEnjoy sub-$40k bitcoin … while it lasts,\u201d the analyst said.<\/span><\/p>\n

\n

Enjoy sub-$40k bitcoin … while it lasts pic.twitter.com\/MgGD5LfuL7<\/a><\/p>\n

\u2014 PlanB (@100trillionUSD) November 24, 2023<\/a><\/p><\/blockquote>\n

Last Chance To Buy Bitcoin<\/b><\/h2>\n

Bitcoin is trading at $37,687 at the time of writing. According to <\/span>Glassnode<\/span><\/a>, the cryptocurrency’s realized price is currently around $21,000. When asked if there would be another opportunity to buy Bitcoin cheap one last time, PlanB replied neither yes nor no, only predicting that the cryptocurrency would trade between $100,000 to $1 million around the next halving cycle. <\/span><\/p>\n

<\/p>\n

Bitcoin (BTC) is currently trading at $37.687. Chart: TradingView.com<\/a><\/pre>\n

A <\/span>former prediction<\/span><\/a> by the analyst puts Bitcoin around $32,000 to $66,000 during the next halving which is slated to occur in April 2024.\u00a0<\/span><\/p>\n

PlanB’s prediction resonates with the overall sentiment around Bitcoin. The cryptocurrency’s mainstream adoption is also increasing, particularly as the industry awaits the approval of <\/span>spot Bitcoin ETFs<\/span><\/a> in the US. According to <\/span>CoinShare’s latest report<\/span><\/a>, Bitcoin now has a year-to-date (YTD) inflows of $1.238 billion into its digital asset investment products.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 \u2013 Details<\/a><\/div>\n

The discount on Grayscale’s Bitcoin Trust is now at -7.31% from -48% at the beginning of the year. This increase indicates institutions are buying into the trust amidst growing bullish momentum. A move into the positive percentage would actually put the price of the trust higher than the spot price of Bitcoin for the first since the first quarter of 2021.<\/span><\/p>\n

\n

NEW: Grayscale Bitcoin Trust’s discount to the #Bitcoin<\/a> price is closing fast – from 48% to just 7.3%.<\/p>\n

The smallest gap since July, 2021.<\/p>\n

Institutions buying? \ud83d\udc40 pic.twitter.com\/hDnAM0BxKG<\/a><\/p>\n

\u2014 Bitcoin Archive (@BTC_Archive) November 24, 2023<\/a><\/p><\/blockquote>\n

Featured image from Pexels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term for Bitcoin. According to the analyst, we might be in the final days of Bitcoin below $40,000.\u00a0 PlanB made a call to action based on his analysis of Bitcoin’s realized price, as all signs point to Bitcoin going on a strong price surge very soon. Enjoy Sub-$40,000 Bitcoin While It Lasts Bitcoin has outperformed other asset classes in terms of price performance this year. Price data shows the cryptocurrency is currently up more than 125% this year, and many analysts think this growth isn’t stopping soon. Related Reading: BLUR Token Rules Today\u2019s Top 100 Crypto Ranking With 88% Rally \u2013 Details Crypto analyst PlanB is also of this continued bullish sentiment. According to his analysis of the realized price model, this could be the last chance to buy Bitcoin under $40,000. Realized price refers to the average price of all Bitcoin currently in circulation. Some experts argue this is a better measure of Bitcoin’s value than the current market price.\u00a0 Bearish markets are usually characterized by a higher realized price than the spot price of Bitcoin. Bullish markets, on the other hand, are characterized by a higher spot market price. A look at the realized price shared by the analyst shows that the spot price of Bitcoin is now trading above the overall realized cost price, the 2-year realized price, and the 5-month realized price. If history is any guide, the market price could be headed significantly higher from here.\u00a0 \u201cEnjoy sub-$40k bitcoin … while it lasts,\u201d the analyst said. Enjoy sub-$40k bitcoin … while it lasts pic.twitter.com\/MgGD5LfuL7 \u2014 PlanB (@100trillionUSD) November 24, 2023 Last Chance To Buy Bitcoin Bitcoin is trading at $37,687 at the time of writing. According to Glassnode, the cryptocurrency’s realized price is currently around $21,000. When asked if there would be another opportunity to buy Bitcoin cheap one last time, PlanB replied neither yes nor no, only predicting that the cryptocurrency would trade between $100,000 to $1 million around the next halving cycle. Bitcoin (BTC) is currently trading at $37.687. Chart: TradingView.com A former prediction by the analyst puts Bitcoin around $32,000 to $66,000 during the next halving which is slated to occur in April 2024.\u00a0 PlanB’s prediction resonates with the overall sentiment around Bitcoin. The cryptocurrency’s mainstream adoption is also increasing, particularly as the industry awaits the approval of spot Bitcoin ETFs in the US. According to CoinShare’s latest report, Bitcoin now has a year-to-date (YTD) inflows of $1.238 billion into its digital asset investment products.\u00a0 Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 \u2013 Details The discount on Grayscale’s Bitcoin Trust is now at -7.31% from -48% at the beginning of the year. This increase indicates institutions are buying into the trust amidst growing bullish momentum. A move into the positive percentage would actually put the price of the trust higher than the spot price of Bitcoin for the first since the first quarter of 2021. NEW: Grayscale Bitcoin Trust’s discount to the #Bitcoin price is closing fast – from 48% to just 7.3%. The smallest gap since July, 2021. Institutions buying? \ud83d\udc40 pic.twitter.com\/hDnAM0BxKG \u2014 Bitcoin Archive (@BTC_Archive) November 24, 2023 Featured image from Pexels<\/p>\n","protected":false},"author":594,"featured_media":562420,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,3505],"class_list":["post-562402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-price-analysis"],"acf":[],"yoast_head":"\nAnalyst Sounds Warning: This Might Be Your Last Chance To Buy Bitcoin Below $40,000<\/title>\n<meta name=\"description\" content=\"Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term\" \/>\n<meta name=\"robots\" content=\"index, follow, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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