Major milestones are flowing in for BTC price action this week, with the market still below the $50,000 level.
Bitcoin (BTC) at $47,000 is turning heads but is in fact only the “worst-case scenario” for one of its most popular analysts.In a tweet on Aug. 13, PlanB, creator of the stock-to-flow family of Bitcoin price models, reiterated that $47,000 should be just the beginning for BTC/USD.Bitcoin price no longer in its “worst case scenario”Following the May miner rout from China and accompanying BTC price crash, long-established price models based on the stock-to-flow principle saw a major test of their reliability.Even PlanB himself had moments of uncertainty as Bitcoin dipped to lows of $29,000.At the time, however, he predicted that a return to strength as the dust settled on the mining reorganization would propel the market far higher. August, or more specifically the August close, should be $47,000, he said. On a month-
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