Quant Analyst PlanB Says New Bitcoin All-Time High Incoming With Sky-High Price Target in Its Sights
WikiBit 2025-05-13 20:01
Popular quant analyst PlanB says that one key indicator suggests Bitcoin (BTC) will hit explosive new all-time highs in the coming months. In a video
Bitcoin
Quant Analyst PlanB Says New Bitcoin All-Time High Incoming With Sky-High Price Target in Its Sights
Popular quant analyst PlanB says that one key indicator suggests Bitcoin (BTC) will hit explosive new all-time highs in the coming months.
In a video update, the pseudonymous analyst tells his 211,000 YouTube subscribers that the monthly Relative Strength Index (RSI) indicator suggests Bitcoins bull market will continue and that the flagship crypto asset may soar close to half a million dollars.
The RSI is a momentum oscillator used to determine whether an asset is oversold or overbought. The RSI ranges from 0 to 100, with readings above 70 typically indicating that an asset is overbought, while readings below 30 suggest that it is oversold.
Says PlanB,
Source: PlanB/YouTube
The analyst believes the RSI will hit at least 80 for several months this cycle based on historic precedent, potentially increasing Bitcoin by 290% of its current value.
Bitcoin is trading for $102,558 at time of writing, down 1.6% in the last 24 hours.
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