Although its gains have slowed down in recent days, Bitcoin (BTC) is nonetheless trading above the psychologically important price level at $37,000, and certain indicators suggest that there is a strong chance that the flagship decentralized finance (DeFi) asset will never go back under $35,000.
As it happens, Bitcoin’s valuation based on its mining difficulty (hash rate) reached $35,000 on November 26, which, according to the pseudonymous cryptocurrency market analyst PlanB, represents a critical level below which this crypto asset would never drop.
Specifically, unless events like black swans or short-term volatility occur, “based on $/kWh-arbitrage fundamentals… BTC will never go below $35k ever again,” and will only continue growing, as the expert explained using a Bitcoin valuation model chart analysis shared in an X post on November 27.
Bitcoin valuation models. Source: PlanB
In the analyst’s view, this growth has a lot to do with the United States Securities and Exchan
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