Cryptocurrency must turn to horror! PlanB: Currently, the market is bullish

The cryptocurrency cycle has been volatile over the past week and the value of Bitcoin plummeted to US $ 42,000 during an earthquake. He has since recovered nearly $ 50,000, but then fell again on Sunday, falling below $ 49,000.

On Monday (6th) afternoon in Beijing, Bitcoin was still trading near $ 49,000 and at 1:14 p.m. it was temporarily trading at $ 48,992, almost equal to its value 24 hours ago. The rest of the money also fell behind Big Brother, with Ether dropping around $ 4,000 before dropping to just $ 4,170.

After dropping last week, the Bitcoin Fear and Security Index has fallen to 16, which is in panic.

Well-known analyst PlanB, who predicted Bitcoin would hit $ 98,000 by the end of November, confirmed on Twitter that the estimate was incorrect. In June, he said Bitcoin prices "August> 47K, September> 43K, October> 63K, November> 98K, December> 135K", with gains from August to October, all will be similar. We have published our best forecast for 2021.

However, PlanB has said that it still expects the price of Bitcoin to hit $ 100,000, even if the November offer fails.

After the week of the crash, PlanB announced six gains before Bitcoin hit all-time highs in 2017, indicating that the bull market is currently still in place. He noted that during the bull market of 2017, Bitcoin suffered as many as six major corrections with an average drop of 35.95%, taking an average of 13 days for a correction. and September.

Then Planby just said he would shut down the computer and run away for a day like this.

El Salvador President Nayves Bukele, who remains confident in the bitcoin market, tweeted that El Salvador plunged 150 bitcoins with an average value of $ 48,670.