Bitcoin and Ethereum pumps’ incoming, multiple analysis led by PlanB indicates

  • Well-respected crypto analyst PlanB has predicted Bitcoin at >$63K this October, and even higher bullish outlooks for November and December.
  • Ethereum appears to be retracing a fractal from 2017, which resulted in 7,000 percent gains, placing ETH on a possible path to $13K in six months.

The entire crypto market has swelled significantly in the past weeks, and the future success of the top two coins by market cap, Bitcoin (BTC) and Ethereum (ETH) remains high, according to crypto analyst PlanB. And for the rest of the month, crypto analysts expect even better news for the pair, besides a ripple effect to the rest of the market.

Popular crypto analyst and YouTube content creator Austin, of the YouTube channel Altcoin Daily, highlighted these key analyses. First, he began with analyses from the popular Twitter user 100trillionUSD of the PlanB pseudonym. The anonymous PlanB has been famed for his on-point and accurate price predictions.

In April, the market mover Bitcoin hit its historical peak price of $65,000. BTC later fell by over 50 percent following FUDs generated from China’s crypto ban and billionaire techpreneur Elon Musk. Interestingly, PlanB predicted the July price to fall to $29,000, based on on-chain data rather than the stock-to-flow (S2F) model. Thereafter, he tweeted the following price predictions in July:

My worst-case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.

Bitcoin and Ethereum price predictions by PlanB

So far, PlanB’s August and September closing prices have come to be just as predicted. The increasingly bullish forecasts for the rest of the year, are, therefore, quite likely. Moreover, on-chain data analysis seems to produce better price specificity compared to S2F. Presently, the S2F model shows that Bitcoin’s price should be around $100,000, but this is not the case. BTC at writing time was trading at $47,975 according to our data.

As for Ethereum, a fractal from 2017 that resulted in 7,000 percent gains for ETH has appeared again this year. This déjà vu scenario might bring ETH to highs of $13,000 in the next six months.

Notably, the 2017 fractal indicator consisted of at least four technical patterns “that were instrumental in pushing the ETH price up by over 7,000 percent.” Now, these same bullish indicators have appeared once again as ETH trades above $3,350, according to our data. The indicators are Stochastic RSI (Relative Strength Index), Bullish Hammer, Relative Strength Index (RSI), and a Fibonacci retracement level. All four indicators have yet to be hit this year, but analyses show quite the mirror image of the 2017 fractal indicator.

Additionally, Ethereum is adding to its ecosystem developments by the day. A cross-chain bridge between Ethereum and Binance Smart Chain (BSC) is now available, thanks to the Umbrella Network decentralized oracle service.

“Nobody can tell the future”

Nevertheless, during Altcoin Daily’s most recent video, Austin reiterated caution with these price predictions as “anything could happen.” However, recent events support these price forecasts. One such piece of news is US Federal Reserve Chair Jerome Powell saying he has “no intention to ban cryptocurrencies.” Furthermore, China-generated FUDs have historically been related to massive bullish price movements following the dips.

About Author

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself.”

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