PlanB’s Bitcoin Model Shows Path to $500K After Record $115K July Close

Bitcoin closes July at $115K, highest monthly close ever. Plan B’s model targets $250K to $1M in coming years. RSI at 72.5 signals strong momentum and ongoing bull market. Bitcoin had closed the month of July at $115,000, an $8,000 jump from June’s close which is the highest monthly close in its history. According to analyst PlanB, this record-breaking move is right in line with his models, which suggest the market is in the middle of a slow and steady bull market with a long way to go. On-Chain Data Supports BTC Bull Theory According to on-chain metrics, the market is in the middle of a slow and steady bull market. Bitcoin’s current cycle has lasted longer than previous ones, already 18 months long and yet, is still rising. While past bull markets saw explosive price moves (like 100x in 2013 and 10x in 2017), the current cycle has “only” seen a 3x rise so far. Based on his famous Stock-to-Flow (S2F) model, he said that Bitcoin could even hit an average of $500,000, with a wide possible range between $250,000 and $1 million. Source: PlanB So why isn’t the price higher, especially with big inflows from ETFs and companies like MicroStrategy… The post PlanB’s Bitcoin Model Shows Path to $500K After Record $115K July Close appeared first on Coin Edition .