EddieJayonCrypto
13 May 25
Popular quant analyst PlanB predicts Bitcoin will reach new all-time highs soon, potentially nearing $500,000. He bases this on the monthly Relative Strength Index (RSI), currently around 66, which historically signals continued bull markets when above 65. PlanB expects the RSI to exceed 80 for seve...
Popular quant analyst PlanB predicts Bitcoin will reach new all-time highs above $110,000, potentially soaring to around $400,000, based on the monthly Relative Strength Index (RSI) indicator signaling a continued bull market.PlanB bases this optimistic forecast on the monthly RSI, which currently sits around 66. Historically, an RSI above 65 indicates sustained bullish trends. The analyst expects the RSI to exceed 80 for several months during this cycle, mirroring patterns seen in previous bull markets in 2013, 2017, and 2021.This elevated RSI is associated with monthly returns exceeding 40%. Starting from approximately $100,000, four consecutive months with such returns could push Bitcoin’s price near $400,000. At present, Bitcoin trades around $102,558.The RSI, a momentum oscillator ranging from 0 to 100, helps indicate asset conditions—readings above 70 suggest overbought levels, while those below 30 signal oversold conditions. PlanB notes that after a couple of years below the 65 average, Bitcoin’s RSI is likely to remain above this threshold for one or more years, signifying a strong ongoing bull market.In summary, PlanB anticipates Bitcoin not only hitting $110,000 but potentially climbing close to half a million dollars in the coming months, driven by historic RSI patterns and significant monthly gains. As always, investors should weigh multiple factors when considering market movements and potential risks.Bitcoin is currently down 1.6% in the last 24 hours but remains in a promising position according to this analysis.