Bitcoin price bull run 'starting to look like 2013' after record red monthly candle

Bitcoin price bull run 'starting to look like 2013' after record red monthly candle


Bitcoin (BTC) may have just had its worst monthly candle in ten years, but it could yet surge to new all-time highs this year, says popular analyst PlanB.

In a tweet on June 1, the creator of the stock-to-flow-based BTC price models said that Bitcoin is behaving like during its 2013 bull run.

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After its drop to $30,000 and several retests of that level, concerns are starting to appear over a bigger drop taking BTC/USD towards $20,000 and lower.

This would mean that for the first time, Bitcoin crosses the all-time high from a previous bull market, in this case from 2017.

For PlanB, however, such an event is unlikely. Moreover, recent price action is far from unheard of — in fact, it could just mean that the market is rehashing its 2013, rather than 2017 performance.

Uploading the latest incarnation of his stock-to-flow cross-asset (S2FX) model, he highlighted similarities between 2021 and Bitcoin’s behavior from years

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