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PlanB: Bitcoin’s price fall doesn’t mean the end

Bitcoin’s price has tanked over these past few days, falling from mid-high 60s to below $50,000. Although the decline is substantial, PlanB, a well-known crypto analyst doesn’t believe the bull run is over.

On Friday, He tweeted regarding Bitcoin’s present scenario with optimism.

The crypto analyst is known in the crypto industry for his Bitcoin-Stock-to-Flow model. The model projects Bitcoin’s price along an growing path with relations to its halvings and increasing scarcity. The analyst is also known for creating a number of models around the concept factoring different aspects.

Bitcoin has surpassed its 2017 all-time price high a couple of times past few months. The premier crypto coin was shy of $65,000 on April 14, according to TradingView. However, Bitcoin is facing a downfall, stopping at near $47,500 on April 23 – about a 26% decline.

Bull runs have usually sustained sizeable shrinks in price a couple of times in hope of a greater bull cycle. During Bitcoin’s bull run in 2013, having a then-significant upside price action, the coin suffered a crash of about 75% between April and July 2013. Post that, Bitcoin saw significant gains before the 2014 downfall.

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