Cryptocurrency

Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-bitcoins-price-predictions-and-market-trends/" data-wpel-link="internal">Insights on Bitcoin’s Price Predictions and Market Trends</a> 
It seems that bulls and bears are fiercely competing in the cryptocurrency sector, especially regarding <a href="https://en.coin-turk.com/bitcoin-halving-market-eyes-2024s-major-event-amidst-sec-etf-approvals/" data-wpel-link="internal">Bitcoin</a> (BTC). While this struggle is ongoing in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>, analysts continue to share their bullish outlooks. In this context, a prominent market figure, PlanB, has presented a significant future BTC outlook. 
<h2 style="text-align: justify" id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
Cryptocurrency analyst and creator of the stock-to-flow (S2F) model, PlanB, shared a post on May 7 predicting the average Bitcoin price for the 2020-2024 halving period at $34,000. 
This prediction was slightly below his previous 2019 forecast of $55,000. 
Following this, PlanB updated the S2F model with new data pointing to similar parameters and results, setting the average Bitcoin price for the 2024-2028 halving at $500,000. 
For the next halving period, 2028-2032, he calculated the Bitcoin price at $4 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349224" src="https://coin-turk.com/wp-content/uploads/2024/05/bitcoin-plan-b-coin-turk-com.png" alt="" width="544" height="659"> 
Reviewing past statements, PlanB recently predicted that Bitcoin would surpass $100,000 in the second half of 2024. 
The price closure in April was slightly above $60,000, representing a 36% increase since the beginning of the year (YTD). 
Additionally, professional cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> and analysts suggest that a market peak might occur in 2025, potentially reaching a Bitcoin price level of $200,000. 
<h2 style="text-align: justify" id="btc-price-analysis">BTC Price Analysis</h2> 
As of writing, the current BTC price is at $62,471, which represents a 1.19% decrease over the last 24 hours. 
Over the previous seven days, there has been a 7.42% progression, and recent data from May 8 shows a 13.90% decrease in the monthly chart analysis. 
Bitcoin’s market cap has fallen to $1.23 billion, a 2% decrease. Bitcoin’s 24-hour trading volume is at $25 billion, with only a 0.1% decrease. 
This 24-hour volume reflects the market’s uncertainty, with sellers hesitant to sell and buyers cautious about purchasing. 
On the other hand, the reluctance of sellers to short-sell under uncertain <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market conditions</a> could also reflect an expectation of a market rise among the same group. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-bitcoins-price-predictions-and-market-trends/" data-wpel-link="internal">Insights on Bitcoin’s Price Predictions and Market Trends</a></h5>

Insights on Bitcoin’s Price Predictions and Market Trends

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