The crypto community on Twitter is bullish on Bitcoin's rally

With the recent surge to $27,700, the major cryptocurrency is once again close to the right track, likely to make a new high soon according to analyst PlanB (@100trillionUSD) on Twitter.

Some forms of S2F may be valid again, and we must be ready to rise and achieve an all-new high in this cycle.

Before 2021, the price of bitcoin was achieving a record high in the year, while in 2021 it printed the double top pattern, recording the highest levels in May and November of the same year.

PlanB predicts that the next all-time high may also be reached before the next mining reward cut as this will be the first Bitcoin (BTC) bull cycle with three consecutive highs.

If these predictions are correct, Bitcoin will reach a new high before April 2024.

Bitcoin's previous high was recorded on November 10, 2021, at $68,789, according to CoinMarketCap data. PlanB admitted that it's not 100% sure of the validity of this prediction, but it doesn't seem impossible to it.

Last week was the most successful for the price of Bitcoin (BTC) in nearly two years and in seven days, Bitcoin became one of the best performing currencies of the top 25 by market capitalization and the price of Bitcoin rose by more than 36% and reached levels not seen since June 2022. .

Today, March 19, 2023, and in the past hours, the bitcoin price almost touched the $28,000 level on the main trading platforms, after which it retreated and is currently trading a few dollars above $27,000.

Crypto community:

The crypto community on Twitter is excited and optimistic about the comeback of the analyst whose predictions are ultra-optimistic and only published when bullish sentiment dominates the market. The analyst denied such accusations that he only appears in a bull market and told that his silence was attributed to attacks by impersonators and Twitter algorithms.

Where he made it clear that he has not left for a year and tweets every day.

The stock-to-flow model by PlanB and its followers is based on the assumption that bitcoins become scarcer due to periodic splits in their rewards that happen once every four years.

Whereas, with the scarcity of Bitcoin, the price rises thanks to the law of supply and demand.

In the downward recession of 2022, the S2F model failed as Bitcoin left the pattern it had followed since the network was launched.

It remains to be seen in the coming days how the bitcoin price will proceed, and whether it will achieve and follow the S2F model, or will it violate expectations.

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