Bitcoin Continues To Rise, Market Corrections Are Predicted To Be Postponed

Bitcoin breaks through new ATH again. The correction period is predicted to be delayed. (CryptoTimes)

JAKARTA - In the midst of the increasing bullish momentum, Bitcoin (BTC) recorded a positive trend that made analysts increasingly confident that this digital asset would reach psychological figures at the level of 100.000 US dollars (approximately IDR 1.58 billion) without major corrections. A well-known crypto analyst with the pseudonym PlanB stated that significant market corrections are likely to occur after Bitcoin exceeded the six-digit figure.

Through X's social media account, PlanB explained to its two million followers that many Bitcoin holders are starting to sell to take profits. The data revealed shows that salesmen in November sold on average for more than 60% profit, with an initial purchase price of around $55,000.

"I think a lot of people are estimating a correction to the 100,000 US dollars, so they are preceding the decline. Ironically, this may mean there will be no correction to the 100,000 US dollars," PlanB said.

Bullish Trend Still Strong

Launching DailyHodl, one of the main indicators supporting this prediction is the realization return, which reflects the total profit or loss based on the last price of Bitcoin trading. This data shows that the profits that have been realized are still at a healthy level, strengthening bullish momentum.

PlanB also notes that Bitcoin's relative power index (RSI), a momentum oscillator used to analyze overbought or oversold conditions, has yet to reach its peak based on previous bullish market cycles. This indicates a large enough space for Bitcoin to continue to rise.