In a groundbreaking announcement, prominent analyst PlanB ignites the crypto world by declaring the official start of Bitcoin's bull market as of March 1, 2024.
With over 1.93 million followers hanging on his every word, he warns that the window to purchase Bitcoin easily is closing fast.
Delve into his long-term forecasts that see Bitcoin soaring to unprecedented heights, stirring a frenzy of anticipation and fear of missing out among investors.
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Opportunity to Easily Buy BTC May Not Come Again Soon?
Prominent analyst known for his Bitcoin (BTC) price forecasts, PlanB, reported on March 1, 2024, that "Bitcoin's bull market has officially started."
PlanB is a well-known analyst with over 1.93 million followers on X, famous for using the Stock-to-Flow (S2F) price prediction model among others to forecast Bitcoin prices.
In his recent post, he reported the appearance of a "RED DOT," indicating that Bitcoin is in a bull market, explaining that "the accumulation phase has ended, so the chance to easily buy BTC during a gentle uptrend might not come again for a while."
Furthermore, he pointed out that there might be "about 10 months of FOMO(*1) ahead," and explained that this period is likely to see "extreme price surges" and "about 30% price drops" repeatedly.
(*1)FOMO: Stands for Fear Of Missing Out. In the cryptocurrency industry, FOMO refers to the fear of being left behind during price surges, leading to emotion-driven excessive buying orders and erroneous investment decisions.
PlanB's Long-Term BTC Price Forecast
In January of this year, PlanB also spoke about his long-term price forecast for Bitcoin, predicting that "Bitcoin will reach $55,000 at the halving, $100,000 in 2024, and $532,000 in 2025."
Many predictions for Bitcoin's price in 2024 suggest a significant surge, with the founder of SkyBridge commenting that "BTC price will quadruple from its halving price after the halving," and prominent analyst Scott Melker predicting that "BTC price could rise to around $240,000 after the next halving."
At the time of writing this article, Bitcoin's price is around $62,000, with the entrance into the $70,000 range imminent, raising expectations for further price increases.
>> For the latest articles on price predictions, click here.
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