Bitcoin Bull Market ‘2nd Leg’ Now In Motion: Analyst PlanB Expects Extended $135K Run This Year

• The second stage of the Bitcoin bull market officially ignited.
• The new development is now worth $ 100,000 in the short term.
• Bull Market is expected to run through the first quarter of 2022 and ship prices as high as $ 288,000.

PlanB, the highly respected founder of the Bitcoin stock flow model, in a very recent tweet hinted to the market that Bitcoin's bull rally is far from over. Rising to the surface to warm up the community, he revealed that the second leg of the Bitcoin rally has taken off.

With the second leg moving, the market is very well positioned to take on the projected levels of $ 100k- $ 135k, and possibly break that price before the end of the year. Although Bitcoin's rise to $ 66,974 this month had reinforced bullish sentiments that the bear market was over, BTC will not only need to maintain stability above the new high, but will also attempt to break above $ 80,000 next month, to preserve positive feelings.

PlanB first cited the second stage rally earlier this month. The Bitcoin proponent who has accurately predicted market movement for most of this year explained that the second stage was not only underway, but would last a good six months.

“The chain analysis ended tonight: In my opinion, we are halfway there, there are still no signs of weakness. Keep in mind that the color overlay is not months away from halving, but rather to a chain signal. My guess: this second stage of the bull market will have at least 6 more months to finish. "

This would mean that the rally could continue until March 2022. Along with the extended rally, the price of Bitcoin is expected to double its year-end price of $ 100,000, and even add an additional $ 88,000 to hit $ 288,000. This is a striking statement from Bitcoiner, as skepticism is still very much present in the market. In fact, the popular skeptic "CryptoWhale" has argued that Bitcoin will slide and fall below $ 20,000 in the long run.

Supporting his prediction is the fact that historically, the market has seen price drops at the beginning of the year on different occasions. However, it is important to note that the Bitcoin market is evolving. With prices reaching levels never seen before, and some of the most estimable institutions that constantly adopt the asset, it is quite possible that Bitcoin will beat the odds in 2022.