U.Today – Renowned analyst and Stock-2-Flow (S2F) modeler PlanB has made a bullish prediction for the world’s largest cryptocurrency, . PlanB’s bold statement comes amidst Bitcoin’s continued price volatility over the past few weeks.
Historical patterns confirm PlanB’s predictions
However, in the post, X PlanB maintains that Bitcoin has reached a point where its price will escalate significantly. According to him, the digital asset could escalate by seven to ten times its current value.
If this price prediction comes true, Bitcoin will trade between $414,000 and $593,000. It is worth noting that PlanB’s price prediction is based on historical patterns, not random numbers plucked out of slender air.
Analysis of the Bitcoin 200-week moving average shows a consistent pattern of a 4x price spike followed by a 7x or 10x spike. Interestingly, the chart shows that the price has risen about four times from the bottom between 2022 and now.
Therefore, given historical trends, the next spike could push the price of Bitcoin to $414,000 and even $593,000 by August 2025.
Industry reactions are sanguine
There have been mixed reactions from industry stakeholders following this bold prediction suggested by PlanB. Some consider these numbers to be high, especially the 10x prediction, favoring a more conservative number between $120,000 and $160,000. Others are predicting $700,000 as the next high for BTC.
The common denominator is the sanguine sentiment of investors towards the world’s largest crypto asset. PlanB’s forecast is in line with previous positive sentiments from other prominent analysts who predict a massive rally for Bitcoin once it breaks through the current resistance level of $70,000.
At the time of writing, the data shows Bitcoin down 1.17% and trading at $59,585.60. With continued interest in Bitcoin ETF spot products, the coin’s demand channel is high. Many believe it’s only a matter of time before it rises.
