While Bitcoin is fighting for 44,000 USD, a new price forecast from PlanB is causing a stir: The top analyst expects a rapid rise to record prices – specifically to more than half a million dollars! Should you buy BTC now?
How high will Bitcoin be in 2025?
It’s official: Bitcoin bulls are on the rampage. The number 1 cryptocurrency by market capitalization is not stopping, having risen 5.3% in the last 24 hours. Based on the last month and last seven days, the digital asset has performed +25% and +15% respectively.
As recently as a week ago, Bitcoin was trading at just under $37,000, and has managed to appreciate to an incredible nearly $7,000 in that time frame. $7k in a week – BTC has not seen such a surge in a long time. Many altcoins are also pumping double digits, including Stacks Coin (STX, +32% since yesterday), Conflux (CFX, +21%), ORDI (ORDI, +16%) or KuCoin Token (KCS, +14%). Overall, the global crypto market capitalization increased by 3.86% and in the last 24 hours..
The most valuable cryptocurrency is hovering around $43,650 and looks poised to bounce back above resistance. Goal: $60,000. At least top bitcoin analyst PlanB is convinced of it.
In a new forecast, he outlines how BTC will reach its new all-time high: Initially, the pseudonymous crypto strategist sees a slow movement towards 55,000 and 60,000 USD – according to PlanB, Bitcoin could reach corresponding prices before the halving. That will take place in April 2024. PlanB about his BTC chart:
“Right now, until the next halving, these blue dots are historically touching the gray line again, and I wouldn’t be surprised if we slowly approach the model value of 55,000 – 60,000. USD”
Halving ensure bullish forecasts
$532,000 per BTC – Half a million dollars, more than 10x! From the current price to PlanB’s new all-time high – this equates to a price explosion of 1,182%! Or, to put it another way: According to the forecast, 1,000 euros invested in Bitcoin now would be worth 11,182 euros in the future!
Background to the optimistic forecast: The expected halving in April 2024 will reduce the number of newly issued bitcoins from the current 6.5 BTC to the then 3.25 BTC. PlanB and other analysts view this shortfall as extremely bullish, with many expecting massive price implications.
However, not directly on the day of the halving, but with a delay of a few months. This leaves plenty of time to decide for or against the investment. Here you can find the full bitcoin forecast from PlanB. However, the high unit price remains a stumbling block for many.
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