U.Today – Renowned analyst and author of the Stock-2-Flow (S2F) model, PlanB, has made bullish predictions about the world’s largest cryptocurrency. PlanB’s bold statement comes amid persistent fluctuations in the price of Bitcoin over the past few weeks.
Historical patterns support PlanB's prediction
However, in a post on X, PlanB argues that Bitcoin has reached a point where its price will increase significantly. According to him, the digital asset can increase between seven and ten times its current value now.
If this price projection comes true, Bitcoin will be priced between $414,000 and $593,000. It is worth noting that PlanB’s price prediction is based on historical patterns rather than random figures pulled out of thin air.
An analysis of Bitcoin’s 200-week moving average shows a consistent price increase pattern of a 4x jump followed by a 7x or 10x jump. Interestingly, the chart reveals that the price has risen by approximately four times from the low between 2022 and now.
Therefore, based on historical trends, the next jump could take Bitcoin to $414,000, or as high as $593,000 by August 2025.
Industry reactions optimistic
This bold prediction hinted at by PlanB has sparked mixed reactions from industry players. Some consider the numbers high, particularly the 10x prediction, and lean towards a more conservative figure of between $120,000 and $160,000. Others predict BTC's next peak will be at $700,000.
One common denominator is bullish investor sentiment towards the world’s largest crypto asset. PlanB’s prediction falls in line with previous positive sentiments from other prominent analysts, who anticipate a massive rally for Bitcoin once it breaks through the current resistance of $70,000.
At the time of writing, data shows that Bitcoin is down 1.17% and is trading at $59,585.60. With sustained interest in spot Bitcoin ETF products, the demand channel for the coin is high. Many believe that its growth is just a matter of time.
This article was originally published on U.Today
