Focus On Bitcoin Uptrend, Not Volatility, Says PlanB

PlanB, the pseudonymous Dutch analyst, asked Bitcoin investors to focus on the uptrend in the coin and not the recent volatility, stressing that long-term trends supported a rebound for the crypto king.

PlanB, known in the crypto community for their use of the Stock-to-Flow model that has helped make accurate predictions about Bitcoin's trajectory until the November highs, tweeted Monday that the 200-day moving average of Bitcoin was still on the rise. The tweet also included a graph of Bitcoins valuation since 2013.

The 200-day moving average is a technical indicator that is used to evaluate and predict long-term trends of an asset.

Michael Saylor, one of the co-founders of Microstrategy has also time and again shown faith in the token. He has been posting tweets in support of Bitcoin every day to his 2.2 million followers. His recent tweet went something like this.

In an interview with Yahoo Finance, he called Bitcoin a 100-year investment expressing his belief in the long-term value of Bitcoin. Microstrategy bought 660 Bitcoin for about $25 million between Dec. 30, 2021 and Jan. 31, 2022, as per regulatory filings submitted to the U.S. SEC.

Bitcoin reached a record high of more than $69,000 on Nov. 9 but has since fallen by around 40%. As per CoinMarket Cap, Bitcoin was trading nearly 5% down in the last 24 hours at $37,124.76 as of 04:16 a.m. ET.