Analyst: 2-Year Actual Price is $29,500

Cryptocurrency analyst PlanB announced that he is patiently waiting for the largest cryptocurrency by market cap to surpass the two-year price level of $29,500. The actual price, pointed out by PlanB, is calculated by dividing the value of all BTCs at the price at which they were purchased, by the number of BTC in circulation.

In a video published three months ago, the analyst pointed out the importance of the model, stating that the Bitcoin price tends to be above the actual price during bull markets. While talking about the importance of the realized price, PlanB argued that it is a historical pattern that always marks the beginning of a bull market for BTC, saying:

In the bull markets of 2011, 2013, 2017 and 2021, the Bitcoin price was always above the red dots, the actual price. In bear markets, the price of Bitcoin has always remained below the actual price. Most importantly, Bitcoin jumped above the five-month realized price and the black line realized price in January and moved towards the two-year realized price, which is an important pattern that historically always marks the beginning of the bull market.

PlanB, in its Bitcoin assessment last week, said that the largest cryptocurrency is in the first phase of the bull market.

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