Bitcoin's price has been stagnant for months, but renowned analyst PlanB sees this as a precursor to a massive surge.
With a history of accurate predictions, PlanB now forecasts BTC reaching $500,000 on average during the next halving cycle and potentially rising another 7-10 times.
Could this be the beginning of a new Bitcoin bull run? Explore the detailed analysis and what this means for BTC's future.
Contents
Half-Cycle Projection: "Average of $500,000"
Renowned analyst PlanB, who boasts nearly 2 million followers on X, shared on August 25, 2024, his prediction that Bitcoin (BTC) is heading towards a price of $500,000.
This price forecast came in response to a question asking, "Are you surprised that Bitcoin has been stagnant for about 5-6 months? If not, why? Do you think this will affect the expected peak of the 4th cycle?"
PlanB responded by acknowledging that while he had initially expected BTC prices to rise sooner, he isn't particularly surprised by the prolonged stagnation, attributing his patience as a factor.
PlanB further elaborated that as long as BTC remains within an acceptable range, there’s no cause for concern.
He predicts that during the 2024-2028 halving cycle, BTC will reach an average target price of $500,000, fluctuating within a range of $250,000 to $1 million during that period.
Historical Patterns Suggest a "7-10x Price Increase"
Despite suggestions that Bitcoin's (BTC) growth rate has been slowing down over the years, PlanB remains highly bullish on Bitcoin's future.
In a post on August 21, PlanB explained that Bitcoin's price has quadrupled from its 2022 low to the present, consistent with past halving cycles.
He also noted that historical trends indicate the possibility of BTC's price increasing another 7-10 times from its current level.
At the end of July this year, PlanB predicted that BTC’s price could double within the next 3-5 months. Additionally, in March, he projected that BTC could reach $5 million during the 2028-2032 halving cycle.
These forecasts rank among the most bullish in the field, yet they align with the opinions of other analysts and experts who predict that BTC could surpass $140,000 during this bull market, further fueling expectations of significant price increases.
>> Click here for a list of articles on price forecasts
-
Potential 200% Price Surge: A Rare Bullish Signal for Bitcoin
Bitcoin is showing signs of a major price movement, with analysts identifying rare bullish indicators that could lead to a 200% surge. As the cryptocurrency gradually recovers, experts are increasingly optimistic, predicting substantial gains in the near future. Explore the factors behind this potential rally and what it could mean for Bitcoin's future. Contents1 Cryptocurrency Analyst Highlights "Multiple Bullish Signals"2 BBWP Indicator Suggests "Significant Price Surge"3 Bitcoin's Price Forecast and Potential Surge Cryptocurrency Analyst Highlights "Multiple Bullish Signals" Bitcoin (BTC) has shown signs of recovery over the past few weeks, raising expectations for further price increases. Some analysts have also ...
続きを見る