As a seasoned researcher with a keen interest in cryptocurrencies and a deep appreciation for the insights of analysts like PlanB, I find his latest predictions for Bitcoin intriguing and worthy of attention. With a career spanning decades and witnessing numerous market cycles, it’s rare to come across such a long-term forecast that is grounded in both fundamental and technical analysis.
Discussions about Bitcoin‘s future price direction are heating up among investors and market participants, with some predicting bearish trends while others remain optimistic. Yet, renowned cryptocurrency analyst PlanB, active on the X platform (previously Twitter), maintains a bullish outlook for BTC prices, particularly considering the recent decline in miner revenues.
Bitcoin Miner Revenues Mark A Bottom
PlanB, a cryptocurrency analyst, recently posted on X (previously Twitter) about an intriguing development concerning Bitcoin miners. Over the last year, their earnings have been decreasing before the halving event in April. Interestingly, PlanB pointed out that the downward trend in miner revenues seems to have reached its lowest point following the completion of the halving.
The base (of the situation) holds significance, not only regarding miner profits, but also affecting Bitcoin’s value directly. As the expert elucidates, this trend indicates a favorable outlook for the digital currency, which he anticipates will start to increase in the coming months. Moreover, his prediction extends beyond that – he expects the BTC price to more than double from its current level.
According to PlanB’s analysis, we can anticipate that the value of Bitcoin will exceed the significant mark of $100,000 within the next 2-5 months. This implies that he foresees this price milestone being reached by the end of the year.
After the Bitcoin halving in April 2024, miner revenues reached their lowest point. I’m anticipating that the Bitcoin price will likely double within the next 3 to 5 months compared to its current value.
— PlanB (@100trillionUSD) July 29, 2024
Mapping Out The BTC For The Next 5 Years
When queried about his thoughts on Bitcoin’s future value, the cryptocurrency expert referred back to an earlier study detailing their long-term assumptions spanning approximately the next five years, from 2024 through 2028, according to PlanB’s projections.
By the year 2024, the crypto analyst anticipates that the Bitcoin price will surpass $100,000 and potentially reach as high as $150,000 by the end of the year. The following year in 2025, their predictions suggest an even more substantial increase, with a projected price of $800,000 for Bitcoin.
In the year 2026, the crypto analyst anticipates a decrease in value compared to the figures of 2025. This means that the peak for 2025, at $800,000, might not be surpassed again. He estimates that by 2026, the value could drop to $400,000. This represents a decrease of half (50%) from his prediction for 2025’s $800,000.
By the year 2027, a crypto analyst predicts that the Bitcoin price will continue to drop, reaching approximately $300,000. Conversely, in 2028, there is an expectation for a more optimistic market trend, with the potential for the price to soar to $400,000.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- VANRY PREDICTION. VANRY cryptocurrency
- USD ZAR PREDICTION
- USD COP PREDICTION
- USD CLP PREDICTION
- USD PHP PREDICTION
- G PREDICTION. G cryptocurrency
2024-07-31 16:42