Bitcoin Climbs To $56k, Binance Coin Up 10%, PlanB Thinks Bull Run Is Not Over

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Last Updated on 28 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin found a floor of support near the $50k mark and has since started to climb upwards again. The top 10 of CoinMarketCap is mostly a mixed bag with no major coin taking any decisive direction.

Only notable exception is Binance Coin which climbed 10% and is aiming for its ATH of $320 again. In doing so, it has overtaken Tether and Cardano to take place 3 again.

The Binance Smart Chain ecosystem of Binance seems to grow rapidly. More and more platforms are running on that ecosystem right now, while Ethereum still has high transaction costs.

It comes after a historically bad month of March is about to end for Bitcoin and a normally bullish one of April will soon start.

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Market commentators

Several market commentators were bullish as the most famous cryptocurrency refused to go under $50k and seems to have found a floor of support after going down for three days straight. It is trading at $56k now, still only $5k off its all-time-high.

Famous YouTube star Tone Vays admits that Bitcoin has had a somewhat consolidating price trends in the last few weeks of March but sees an upswing soon. He said:

Bitcoin is consolidating but I remain bullish in this market.

While it is still possible for bitcoin to make a lower low for the month in the $48k range, I believe we will go up to above $70k before June.

Anonymous Dutch analyst PlanB meanwhile, whose stock to flow model made headlines around the world ever since he launched it, believes the current Bitcoin bull run is far from over. He claimed:

In my opinion, we are only some 4 months into the bull market and nowhere near the end of it.

Bitcoin is just getting started.

Scott Melker, the crypto trader who tweets under the moniker Wolf of All Streets, seemed to agree with this view. He said:

Bitcoin is nowhere near its cycle top. It is just getting started.

We’ll know in a few weeks time if they are right.