bullish

random

Bitcoin ETF

Bitcoin

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Renowned analyst and author of the Stock-2-Flow (S2F) model,&nbsp;<a href="https://u.today/planb-issues-epic-year-end-bitcoin-btc-price-prediction" rel="noopener noreferrer nofollow">PlanB</a> has made bullish predictions on the world’s largest cryptocurrency, Bitcoin. PlanB’s bold statement comes amid persistent price fluctuations for Bitcoin in the past couple of weeks.</p>
<h2 id="historical-patterns-back-planb-s-prediction">Historical patterns back PlanB’s prediction</h2>
<p dir="ltr">However, in an<a href="https://x.com/100trillionUSD/status/1826224333737627781" rel="noopener noreferrer nofollow">&nbsp;X post</a>, PlanB maintains that Bitcoin has reached a point where it will significantly increase in price. According to him, the digital asset can soar between seven and ten times its current worth now.</p>
<p dir="ltr">If this price projection comes to pass, Bitcoin will be between $414,000 and $593,000. Notably, PlanB’s price prediction relies on historical patterns rather than random figures plucked from the air.</p>
<p dir="ltr">An analysis of Bitcoin’s 200-week Moving Average shows a consistent price leap pattern of a 4x jump followed by a 7x or 10x leap. Interestingly, the chart reveals that the price has climbed approximately four times from the bottom between 2022 and now.</p>
<blockquote>
 <p lang="en" dir="ltr">Bitcoin increased 4x from the bottom in 2022 to now.Historically 7-10x follows from here.What do you think bitcoin will do next 12 months? <a href="https://t.co/WtyO0u5RHn" rel="noopener noreferrer nofollow">pic.twitter.com/WtyO0u5RHn</a></p>— PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1826224333737627781?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
</blockquote>
<p dir="ltr">Therefore, based on historical trends, the next leap might push <a href="https://u.today/bitcoin-btc-prediction-for-august-21" rel="noopener noreferrer nofollow">Bitcoin</a> to $414,000, or as high as $593,000 by August 2025.</p>
<h2 id="industry-reactions-optimistic">Industry reactions optimistic</h2>
<p dir="ltr">Diverse reactions by industry stakeholders have trailed this bold forecast hinted by PlanB. A few consider the figures high, particularly the 10x prediction, favoring a more conservative figure between $120,000 and $160,000. Others forecast $700,000 as the next peak for BTC.</p>
<p dir="ltr">A common denominator is investors' bullish sentiment toward the world’s largest crypto asset. PlanB’s prediction aligns with previous positive sentiments by other notable analysts, who anticipate a<a href="https://u.today/michael-saylor-says-bitcoin-going-up-forever-shares-calculations" rel="noopener noreferrer nofollow">&nbsp;massive run for Bitcoin</a> once it overcomes the current resistance of $70,000.</p>
<p dir="ltr">At the time of writing, <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">data</a> shows Bitcoin down by 1.17% and trading at $59,585.60. With sustained interest in spot Bitcoin ETF products, the demand channel for the coin is high. Many believe its growth is only a matter of time now.</p>

PlanB Shares Proof Bitcoin Can Skyrocket 4-7x From Here

Table of Contents

U_Today

Other articles published on Aug 21, 2024

Playdoge vs Mpeppe: Solana Whale Pledges To Invest $2M In Mpeppe

VoIP Finance’s MEXC Listing Signals Potential for 10x Growth

Mango DAO Weighs SEC Settlement: A New Chapter Ahead?

Shiba Eternity Closed Beta Goes Live: Web3 Transition, NFT Inventory, and Enhanced Player Experience

XRP Goes Global: Research Reveals Institutional Use Across All 7 Continents

Hackers use McDonald’s Instagram to steal $700,000 in Solana

Join our free newsletter for daily crypto updates!