Bitcoin

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  <p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/bitcoin/is-bitcoin-btc-price-nearing-50k-in-the-coming-months-heres-what-analyst-planb-says/">Is Bitcoin (BTC) Price Nearing $50K In The Coming Months? Here’s What Analyst PlanB Says</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
  <p>In a recent video update, renowned quant analyst PlanB shared his projections for Bitcoin (BTC), suggesting that the cryptocurrency could experience a significant surge in price in the coming months. With Bitcoin’s next halving event approaching, analyst envisions the possibility of BTC reaching anywhere between $40,000 and $50,000.</p> 
  <p>The halving event, which occurs approximately every four years, involves a reduction in BTC block rewards by half. PlanB, known for its data-driven approach, believes that the upcoming halving will play a crucial role in driving Bitcoin’s price to new heights.&nbsp;</p> 
  <h2 class="wp-block-heading" id="what-will-the-price-of-bitcoin-be-at-the-2024-april-halving">What will the price of Bitcoin be at the 2024 April halving?</h2> 
  <p>During his recent strategy <a href="https://www.youtube.com/watch?v=vmIlDbTgFYs" rel="noopener noreferrer nofollow">session</a> on the YouTube channel, PlanB, which boasts an audience of 58,200 subscribers, outlined his reasoning behind this forecast. He relies on the 200-week moving average as a key indicator and notes that it is currently increasing at a rate of about $500 per month. By extrapolating this trend, he estimates that the 200-week moving average at the time of the April 2024 halving would be around $32,000.</p> 
  <h3 class="wp-block-heading" id="h-will-planb-s-projections-spark-bitcoin-s-surge"><strong>Will PlanB’s projections spark Bitcoin’s surge?</strong></h3> 
  <p>While analyzing the historical data, PlanB points out that Bitcoin’s price at previous halvings has typically been around 50% higher than the 200-week moving average. Whereas, based on this previous pattern, he suggests a potential price range of $40,000 to $50,000 for Bitcoin when the next halving occurs in 2024.&nbsp;</p> 
  <p>Similarly, last month, PlanB made a passing reference to an indication that suggested an impending bull run for the leading cryptocurrency. While he suggested that when Bitcoin’s price surpasses its two-year realized cost price, it historically triggers a rally. This additional analysis further supports his optimistic outlook for BTC.</p> 
  <p>At the time of writing, Bitcoin is currently trading at $30,450, representing a fractional increase in the past 24 hours. If PlanB’s projections were to materialize, Bitcoin would experience a notable increase of 31% to 64% from its current value, providing potential opportunities for investors and enthusiasts alike.&nbsp;</p>
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Is Bitcoin (BTC) Price Nearing $50K In The Coming Months? Here’s What Analyst PlanB Says

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