PlanB: Bitcoin Bull Market Has Yet to Arrive, Miners Need Price to Double

According to BlockBeats, on September 16, prominent crypto analyst PlanB shared his insights on social media, indicating that while Bitcoin is in a bull market, a significant rise is yet to occur. The market continues to trade sideways within the $60K range, and PlanB expressed his readiness to re-enter the market. He also emphasized that miners are still grappling with the effects of the recent halving event, noting that Bitcoin’s price would need to double from its current level to truly kick-start the next bull market phase.Willy Woo, another well-known cryptocurrency analyst, commented that at the current pricing levels, only the latest generation of mining machines are profitable post-halving. Woo suggested that now is typically an opportune moment to buy BTC and utilize the most advanced hardware for mining operations.