Bitcoin (BTC) is facing rejection near $50,000, indicating that bears are not ready to give up without a fight. Many analysts expect Bitcoin to soar in the last quarter of the year and stock-to-flow model creator PlanB says the “worst-case scenario” for Bitcoin in October is $63,000 and $98,000 by November.
PlanB is not alone in his bullish projection. Using Bitcoin’s relative strength index (RSI) indicator during the four-year cycle, Twitter (NYSE:TWTR) commentator TechDev suggests that the second leg of the 2021 bull run may just be getting started. The trader expects Bitcoin’s cycle top to be around $200,000.