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The last time BTC saw this level, it pushed to $60k shortly after
Prominent analyst and the architect behind the renowned stock-to-flow (S2F) model, PlanB, has revealed a pattern that preceded a significant upswing in Bitcoin’s price two years back.
Taking to Twitter, PlanB (@100trillionUSD) noted, “last green candle at current level (Dec 2021) took us to $60K in 4 months 🔥,” referring to the candlestick pattern witnessed in late December 2020, when the asset’s value was similar to the current level.
After starting the year with a value of $7k, Bitcoin pushed to the $10,000 mark in June of 2020, which acted as a strong support point for the asset’s 2020 rally. The digital gold saw a surge in 2020 that attracted the attention of global financial institutions and investors, especially considering the economic downturn influenced by the pandemic.
The traditional financial system was in jeopardy, and investors sought a hedge against inflation and the global economic crisis – in their time of need, BTC was available as a safe haven. This contributed to the asset’s encouraging performance. As of 1 December, 2020, BTC was already breaking through to the $19k level and further surged to $23k on the 18th.
 
 
BTC started the next year on a favorable level, as institutional investors trooped to the asset class due largely to its performance in the previous year. Four months later, in mid-April, BTC pumped to a new all-time high of $60k.
