Cryptocurrency analyst PlanB has observed a significant trend in the Bitcoin market post the recent halving event. Utilizing various indicators, including the unique Bitcoin Stock-to-Flow model (S2F), PlanB evaluated Bitcoin's trajectory in comparison to historical bullish cycles. According to PlanB's analysis, Bitcoin is on the cusp of a bullish phase, with indications of a substantial price increase following the halving event in April.

PlanB's examination using the S2F model illustrates that Bitcoin is well-positioned for the next phase of the bullish cycle. Closing above $67,000 last month confirms the initiation of a new cycle according to the analysis. The analyst's projection anticipates a surge in Bitcoin's value akin to previous halving cycles, forecasting a target of $500,000 for the flagship cryptocurrency in the upcoming bullish cycle.

In addition to the S2F model, PlanB discussed the Bitcoin Market Cycle indicator, affirming the market's entry into a bullish cycle. Despite this positive outlook, PlanB advises caution to followers, recommending patience until prices show rapid increments. Furthermore, the analyst highlighted the Relative Strength indicator...