According to BlockBeats, on May 3, renowned crypto analyst PlanB expressed his views on social media. He stated that the price of $60,000, which was achieved in five months, appears to be a valid support level in the current bull market. He drew parallels with similar trends observed in 2012, 2016-2017, and 2020.
PlanB's analysis suggests that the $60,000 mark is a significant threshold in the crypto market, providing a strong base during bullish trends. This observation is based on the price patterns seen in previous years.
It's worth noting that the crypto market has seen similar support levels during previous bull runs. In 2012, 2016-2017, and 2020, certain price points served as robust support levels, enabling the market to sustain its upward trajectory. PlanB's statement indicates that the current market conditions are mirroring these past trends, with $60,000 emerging as the new support level.