PlanB, a well-known quant analyst, is making a bold prediction about the future value of Bitcoin (BTC). According to the pseudonymous analyst, Bitcoin could experience massive gains after the upcoming halving event on April 19th. Based on historical patterns, PlanB believes that Bitcoin’s price will reach a cycle top of approximately $300,000 by 2025.
PlanB shares his insights with his 1.9 million followers on the social media platform X. He explains that the halving event, which involves cutting miners’ rewards in half, has historically been a bullish factor for Bitcoin. He suggests that buying six months before the halving and selling 18 months after the halving will outperform a simple buy-and-hold strategy.
The analyst expects Bitcoin’s price to exceed $100,000 in 2024 and reach over $300,000 in 2025. He emphasizes that this halving event will follow the same pattern as previous ones, with significant price increases occurring around the halving. PlanB backs up his claims with data, showing that Bitcoin has experienced 2x gains in the six months leading up to the halving, 2x gains in the six months following the halving, and 4x gains between six and 18 months after the event.
However, PlanB cautions against expecting an immediate breakout from Bitcoin immediately after the halving. He points out that the recent price increase from $34,000 to $62,000 is already a significant gain. He believes that another 2x increase will occur in the six to 10 months after the halving, followed by a subsequent 2x to 4x increase that will create a fear of missing out among investors.
As of now, Bitcoin is trading at $64,489, reflecting a 1.5% increase in the last 24 hours. It’s important to note that the opinions expressed by PlanB are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin or other cryptocurrencies.
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