PlanB: 'Rare Opportunity' Can See Bitcoin Price Hit $10K in December

Bitcoin returning to $10,000 next month may feel unlikely, but should not surprise anyone, says the creator of one of its most accurate price models.

In a tweet on Nov. 25, PlanB, the Twitter analyst known for his Stock-to-Flow Bitcoin price charts, suggested BTC/USD could easily retake five figures before 2020.PlanB: $10K BTC bounce "Wouldn't surprise".

"Call me crazy, but it wouldn't surprise me if BTC closes 2019 at $10k+. opportunities like this are rare," he wrote.

Such a surge would mean Bitcoin rising 40% from current levels.

This is in fact already within reach - last month, the cryptocurrency's second-biggest daily jump ever totaled around 42%. PlanB was referencing the current Bitcoin price underperforming in the eyes of Stock-to-Flow.

As Cointelegraph reported, it calls for an average price of $8,300 until the May 2020 block reward halving.

Bearish sentiment appearing so close to the halving event also caught the attention of statistician Willy Woo.

Last week, Woo eyed the "Unique" quality of the market this year, noting that previous halvings came during bullish price action.

"We'd need to close above 8300 by the end of the month, or we'll likely have a bearish December to test new lows."

As Cointelegraph reported, signs of recovery trickled onto markets on Monday, Bitcoin rising around 11% from its daily lows of $6,515.