PlanB analyst predicts bitcoin’s growth to $ 300,000

An analyst under the pseudonym PlanB said that exponential currency devaluation is pushing bitcoin BTC $112,426.00 Mezo Wrapped BTC -0.47% Market capitalization $41.53 million VOL. 24 hours $1.72 billion to new heights. In a post on X, he reminded his 2.1 million followers that over the past decade, all major assets have been rising thanks to the US Federal Reserve’s money-printing policy. According to him, gold has tripled in price from about $ 1,000 to $ 3,000, the S&P 500 index has tripled from $ 2,000 to $ 6,000, and bitcoin has added 250 times from $ 400 to almost $ 100,000.

The analyst emphasized that the August bitcoin rate of $ 108,269 significantly exceeds the 200-week moving average of $ 52,000 and continues to grow. The realized cost of the asset is at the same level. He added that the Relative Strength Index (RSI) is at 67, which indicates an uptrend and confirms the continuation of the bull market.

«Bitcoin is always growing… if you ignore the fluctuations during the bull markets of 2013, 2017, 2020/2021. Forget about peaks and troughs, look at the bigger picture: we are witnessing the separation of money from the state and the birth of the best financial asset,» PlanB said.

Last month, he predicted that the price of bitcoin could reach $ 300,000 by 2026. Thus, the analyst expects that the current growth cycle is far from over.