PlanB: Bull Market Needs Bitcoin Price to Double to Start
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September 16, 2024
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Mars Finance News:
PlanB, a crypto analyst, posted on X that "the market is still consolidating, trading around $60k. I'm ready to re-enter. Additionally, Bitcoin is in a bull market, but the surge hasn't arrived yet. Miners are still grappling with the effects of the halving. We need Bitcoin to double in price to kick off the bull run."
Willy Woo, another crypto analyst, commented on the tweet, "With current BTC pricing, only the latest generation of mining rigs are profitable after the halving. As the chart shows, now is generally a good time to buy BTC (and use the latest generation of hardware for mining)."
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