Quantitative analyst PlanB predicts that Bitcoin (BTC) is poised for a significant surge reminiscent of its explosive rise in 2020. Speaking to his 1.9 million followers on the social media platform X, he notes that Bitcoin has been consolidating around the $60,000 mark, akin to its behavior near the $10,000 threshold back in 2020.

“$60,000 is the new $10,000. It’s only a matter of time before it skyrockets, in my view,” he asserts.

PlanB shares a chart illustrating the realized price metric, which captures the total value of all Bitcoin in circulation based on their last transaction price, divided by the number of BTC available. This chart indicates that the five-month realized price level is serving as a robust support level, much like it did in 2020.



Source: PlanB/X

The analyst further explains that Bitcoin is currently navigating through a historically “boring” phase of the market cycle, which typically precedes a dramatic breakout.

“The yellow periods are dull; Bitcoin doesn’t move much. The real action happens in short bursts: 2013, 2017, late 2020. Those are the key price movements. Don’t miss out on the next one!”



Source: PlanB/X

He emphasizes that a significant portion of Bitcoin’s growth occurs within brief timeframes, sandwiched between longer stretches of sideways movement and consolidation.

PlanB points out that BTC’s substantial price increases have transpired in just 27 months throughout its 162-month history.

“Only 27 months in the last 13 years have accounted for ALL of Bitcoin’s gains: 2013, 2017, 2020/21. Be ready for the next upward leg!”



Source: PlanB/X

As of this writing, Bitcoin is trading at $63,174.

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Disclaimer: The views expressed in The Daily Hodl are not intended as investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are at your own risk, and any potential losses are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Additionally, The Daily Hodl engages in affiliate marketing.
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