Given it hovers around $37,000, industry experts anticipate a significant rebound after the halving in April 2024, with projections suggesting a potential rise to between $100,000 and over $130,000 by the end of 2025. The The crypto community is watching the market closely as prominent figures in the space share their forecasts.
On Sunday, a well-known figure in the cryptocurrency industry, commonly known as Crypto Titan, made an announcement predicting a pre-halving rally that could see Bitcoin prices skyrocket to $50,000. This prediction aligns with his previous expectation of a 220% rise following Bitcoin’s rebound from its two-year low of $15,600. According to Titan, breaking through the resistance near $40,000 is a critical milestone ahead of the halving event scheduled for April 2024.
Analysts such as DecenTrader’s Filbfilb support the optimistic outlook, but also warn that occasional dips are likely amid the overall growth trajectory. This sentiment is reflected in today’s CoinMarketCap data, which shows BTC trading near $37,000, still below some analysts’ previous forecasts but holding steady in anticipation of future gains.
In addition to these predictions, PlanB’s Stock-to-Flow (S2F) model provides more insight into Bitcoin’s potential performance. As of today, according to PlanB, BTC is expected to hold above $32,000 during its yellow-coded pre-bull market phase and may move into a red-coded full-blown bull market after the shortening event. half or possibly sooner if spot Bitcoin ETFs are found. receive approval. The upcoming halving will reduce Bitcoin’s mining reward to 3,125 BTC per block, an event historically associated with price increases.
PlanB also referenced the community’s interest in buying Bitcoin at pre-bull season prices, such as $29K, and cited log regression and S2F data predicting a rise toward record highs after the halving. Even though the current BTC price does not meet its prediction of $100,000 by the end of 2023, PlanB maintains an optimistic long-term forecast with the potential for Bitcoin to reach up to $1 million by 2025.
This article was generated with the support of AI and reviewed by an editor. For more information consult our T&C.