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Experienced Bitcoin Analyst Expects Minimum $300,000 Price by 2025

PlanB sees bitcoin hitting a minimum price target of $100,000 this year and $300,000 in 2025.

Bitcoin on motherboard

Bitcoin price would trade above $100,000 in 2024 and $300,000 by 2025, according to an experienced Bitcoin analyst, PlanB. In an X tweet on Wednesday, the market veteran stated that this month’s halving would not be different from other halvings, and he expects a bitcoin price uptrend “around the halving.”

PlanB noted that he sees the market peaking 18 months after the halving and called the Bitcoin bull run’s top at $300,000. This call correlates with several analytics postulated by renowned professionals, who see Bitcoin trading above $100,000 by the end of the year despite the recent market downtrend pre-halving.

Analyst Expects Nothing Special on Halving Day

The experienced X crypto analyst further stated that he sees no price action on the halving day, insinuating a normal trading day for Bitcoin on April 20th.

According to him, the market has already given investors a “nice little price increase” from $34,000 to $63,000 six months before halving, accounting for almost 100% growth. He speculated that Bitcoin would double again between 6 and 10 months after the halving, then “another 2x-4x face melting fomo top.”

Historically, the Bitcoin halving date has been literally flat, with Bitcoin declining in price in two of the three halving days. Bitcoin opened lower than it did a day after the May 11th, 2020 halving event, trading at $8,625 against $8,772 on the halving day.

A similar pattern was also seen during the July 9th, 2016 halving, where Bitcoin opened the day at $666 and dropped to $650 the day after the event. Hence, history suggests a flat day for Bitcoin on April 20th.

Bitcoin to Outperform Gold: PlanB

PlanB further stated that he thinks Bitcoin will outperform gold in the coming market cycle, citing the impending scarcity shock after the halving event as a major factor.

“Agree, bitcoin must take out gold because it will have 2x scarcity/S2F,” the analyst stated in response to a comment on his tweet.

Although inflows from exchange-traded fund (ETF) products for Bitcoin have slowed as the halving event nears, the funds at one point saw demands surpass the number of bitcoins that miners produced daily by ten times. With the mining reward reducing, a demand close to that caliber would cause a supply shock for Bitcoin.

Elendu Benedict

Elendu Benedict is a professional writer with sheer competence in crypto-related journalism. With a background in Engineering, Benedict specialises on news related to ETFs, market analysis, and macroeconomic policies that affects the crypto market.