Bitcoin Surges in Bull Market, Outperforms U.S. Equities and Altcoins.
Quantitative analyst PlanB believes that Bitcoin is in the early stages of a new bull market, citing technical indicators such as the relative strength index (RSI). PlanB also defends his stock-to-flow (S2F) model, which predicts Bitcoin's price based on scarcity, stating that the model remains valid despite BTC topping out at around $69,000 in 2021. PlanB predicts that Bitcoin's fundamentals will eventually push the price of BTC to greater heights. At the time of writing, Bitcoin is trading at $30,115, up over 7% in the last 24 hours.