Bitcoin will grow in the next six months

[Leviathan.007]

Leading analyst PlanB believes that BTC will see good growth in the next few months, given that Bitcoin has been able to maintain its price level in the bear market.
In a new tweet, PlanB told its 457,000 followers not to reject Bitcoin's widespread rally theory in the coming months, as the currency remains strong amid an influx of downtrends.
“Net result (after Turkey ban, US tax FUD, Faketoshi lawsuits, Elon/Tesla energy FUD) is that Bitcoin is 5x higher than ~6 months ago. And both stock-to-flow model + on-chain data indicate that we are only halfway through this bull market. I would not be surprised to see another 5x next ~6 months.”
The analyst added that the current bitcoin market seems to be a continuation of the 2013 cycle, in which BTC increased 10 times in a few months.
“Yes, markets are (as always) probably overreacting to Elon’s betrayal, so beware you don’t miss the possible gigantic spike back up (like the 2nd half of 2013 bull market: if you sold below $100 on the news that US government seized MtGox accounts, then you missed the spike to $1000)… In today’s terms that would be a jump from $50,000 to $500,000.”
The reason for Bitcoin's current low volatility in PlanB is that traders who buy at a lower price are retaining profits.
“We want, ‘all models to be broken’ and $100,000 BTC now. Truth is that it takes time. Some investors with 5x profits last couple of months, do not care about the Byzantine General problem or ECDSA (elliptic curve digital signature algorithm, SHA256 (secure hash algorithm), or P2P (peer to peer). They trade numbers on the screen and take profit. Patience is a virtue.”



Source: https://dailyhodl.com/2021/05/15/bitcoin-could-see-huge-gains-in-six-months-says-planb-heres-how-high-btc-can-soar/

[Poker Player]

I think so too (although I recognize that I have much less knowledge than PlanB). A lot of people get desperate very early, they are traders who can't help but buy or sell short on news, like the recent Musk news. The history of Bitcoin shows us that those who sell as a result of news like this is a mistake.

This post has made me realize that I have homework to do, as I understand well the problem of Byzantine generals and P2P, but I have to read more about ECDSA and SHA256.

[Haunebu]

6 months? Easy to form this kind of assumption considering the fact that BTC and many popular altcoins have been rising steadily in recent months.

The primary reason why BTC value will continue to rise in my opinion is the COVID-19 effect which will continue wreaking havoc for many more months in the future. Another reason is the supply and demand logic.

[ILuckyGuyI]

Patience is a virtue, yeah. It is a so true saying. Tesla's recent action and the other incidents happened on the same day hit the cryptocurrencies hard. And it looks like we will have to wait for some time to see Bitcoin price recovering to its old levels ($60k). And if you are a HODLer, you should already be accustomed to be patient.

[tabas]

“Patience is a virtue.”

Definitely. That's why most of us here have stayed for long because we're too patient enough to wait for bitcoin's next big move. It's going to be the next better months and we're having through a correction which is healthy and fairly normal, just as the usual market for bitcoin.
There's no need to worry if somebody looks at the market on its daily trend, don't look at that chart but instead look out at the possible future and compare it to the past rallies.

[BITCOIN4X]

Whatever he says in analysis, everyone should always consider all the risk involved in investing and trading bitcoin and I don't think that should be used as financial advice either. Even though in the long term I think the risk of investing in bitcoin is proportional to the result you get, bitcoin is an asset that can change at any time. We've been through a period of correction price in the last month, so in the next 6 month I think a lot more could happen to bitcoin.

[aoluain]

A lot more could and can happen to Bitcoin in the next 6 months for sure.

Bitcoin has been following PlanB's STF model, even in these difficult
few weeks we are still "on target" which is remarkable.

Again over the last few weeks of sideways price movement everyone
has got a dose of reality, Bitcoin cannot and will not continue upwards at
a constant rate, there are distractions for the non believers, like Ethereum
and other $hitcoins but like 2013 & 2017 Bitcoin will overshadow all

[virasog]

6 months? Easy to form this kind of assumption considering the fact that BTC and many popular altcoins have been rising steadily in recent months.

The primary reason why BTC value will continue to rise in my opinion is the COVID-19 effect which will continue wreaking havoc for many more months in the future. Another reason is the supply and demand logic.

Bitcoin is bullish in the long term. Even without the pandemic and other reasons, bitcoin will continue to grow.

I don't believe in any Plan B for bitcoin. There is only one way to go for bitcoin and that is bullish.  

[charlesmichel1]

I follow PlanB's Twitter, so I believe Bitcoin will go up too. Maybe now is the best time to buy more BItcoin.

[Ecol]

Despite Elon, this price will increase. Big companies haven't invested unnecessarily in bitcoin. That's why I am very hopeful. I think we can see 150 thousand dollars by the end of this year.

[Marvelman]

With the initial euphoria and exuberance fading in favor of a gradual return of pragmatism, the general public is now more aware of the Bitcoin reality, who are in search of information on the digital currency.
However, I believe Bitcoin's price performance in the near term is expected to be impacted by a number of headwinds, including the U.S. The Securities and Exchange Commission (SEC)’s decision regarding Bitcoin ETFs.

[asyakashi]

bitcoin growth is the amount of public trust. And that's what bitcoin needs to grow. bitcoin is the v1 of cryptocurrency, Before companies review about cryptocurrencies surely they research bitcoin first. Right now only Elon Musk is famous. I'm sure the next one is samsung.

[cryptomaniac_xxx]

Majority of us here I will assume still thinks that we are still in the bull run and the price could really rally up to the end of the year. Although the price this month is not what we expect because of so many factors, including Elon Musk which put some dent of the price. So we need more patience, we could be still on track of reaching $100k before 2021 ends.

[kryptqnick]

This might be true, but it's just a speculation. Extrapolating data from the past and expecting it to be accurate in describing the future is a dubious strategy. We don't know how far Bitcoin can go, and after the last ATH there were years of stagnation, so it's reasonable to predict something similar will happen this time. Technical analysis isn't science, and there's no way to know whether this chart provides a reasonable prediction or not. IMO, there's clearly a strong support for $50k, but very weak support of $60k. So it's hard for me to believe that BTC can go significantly above $60k and remain there for a while.

[OcTradism]

Leading analyst PlanB believes that BTC will see good growth in the next few months, given that Bitcoin has been able to maintain its price level in the bear market.

The market is not bearish yet in my opinion. It is a correction for higher highs and patience as well as determination will help hodlers to have better profits than traders or weak investors.

I believe Bitcoin will have higher price but I don't advise anyone to make loans or use leverages for their investment or trade. Because with corrections and even with bull run, you will lose money if you use too high leverages with bad entry prices.

Loans have expiration and such call will result in bad decisions.

“We want, ‘all models to be broken’ and $100,000 BTC now. Truth is that it takes time.

It takes time so it requires patience to see $100,000 for one Bitcoin. If you believe Bitcoin will have that price, why not hodl it. 1 Bitcoin is 1 Bitcoin and you will only lose your Bitcoin if you sell it at bottom. If you buy it back at higher prices, you will lose some fraction of bitcoin.

[btc_angela]

And if we have to look at his prediction:



It is still on the target, and his prediction is:

If we follow 2017 trend we will see $180k++, and if we follow 2013 trend we are on the way to $230k++.

[Reid]

It's not even December yet and they are all in panic. 
Those who had experienced it a lot of times will surely know why. It's not just Christmas that needs to be celebrated.

The pandemic had been a big punch to the economy but what the hell, Bitcoin didn't even plunge to a price that I want. Yeah, let my money in.
That proves a lot of things. Bitcoin is not that weak to be pushed with a fudster with rich followers. It could surge back and we won't even be ready for it. 

[Nunoluck]

I am sure that bitcoin price will rise again and reach new higher level but I am not sure about that 6 months. Bitcoin always unpredictable. I always keep an eye on bitcoin market, and I think the strongest factor that influence it price is sentiment. So I always look at the news that spread and follow the trend. My strategy is not based on time but more close to market behaviour, when the price getting more stable then that is a sign for me to take a decision to buy or sell because bitcoin market is volatile so it will not stable forever. But still I think 6 month is too long, maybe it only need 3 or 4 months. But I am not an expert and my strategy is not the best.

[elda34b]

But still I think 6 month is too long, maybe it only need 3 or 4 months. But I am not an expert and my strategy is not the best.

Nobody knows for sure, heck even in a month you might see drastic changes. There's no need to guess when it happens, as long as you follow your strategy with discipline and act according to the latest situation.

Hopefully the next run will also trickle down to low marketcap coins and NFT/defi and stuff like that so the poor bunch will get the share of the pie.

[KeikoKitagawa18]

Ya i agree with that, i believe the price of bitcoin will keep rising in this year and i think at the end of december it will hit more than x10 times from this current price. For the NEW ATH, i think BTC will break it in the next month after the US TAX.