PlanB: Bitcoin Bull Market Started Prematurely, Not Ready for Next Leg Up

PlanB: Bitcoin Bull Market Started Prematurely, Not Ready for Next Leg Up

Renowned analyst PlanB, the creator of the Stock-to-Flow (S2F) model for predicting Bitcoin's price, has taken to Twitter to share his thoughts on the current state of the market. "The problem with the Bitcoin market right now is that the bull market started too early," he wrote. "Normally halvings happen in the accumulation phase, but the 2024 halving happened in the bull market phase. The market rallied prematurely, and it's not ready for the next leg up." PlanB's comments echo those of other analysts who have expressed concern about the sustainability of the current Bitcoin bull market. Some have argued that the market is overheated and due for a correction. Others have pointed to the lack of institutional adoption as a sign that the market is not yet ready for a sustained bull run. It is important to note that PlanB's S2F model has been criticized by some analysts. However, his track record of accurately predicting Bitcoin's price movements makes his comments worthy of consideration. Only time will tell whether PlanB's prediction of a premature bull market is correct. However, his comments serve as a reminder that the cryptocurrency market is still highly volatile and that investors should proceed with caution.