As bulls and bears continue fighting for dominance in the cryptocurrency sector, particularly over Bitcoin (BTC), the flagship decentralized finance (DeFi) asset is looking at impressive price advances in the years to come, at least according to the observations of a renowned crypto trading expert.
Indeed, the average Bitcoin price for the 2020-2024 halving cycle was $34,000, which is slightly below the 2019 prediction of $55,000, as the crypto analyst and creator of the stock-to-flow (S2F) model in predicting Bitcoin’s price, PlanB, pointed out in an X post published on May 7.
Bitcoin price analysis and prediction. Source: PlanB
As a reminder, PlanB has recently predicted that Bitcoin will reach the price of $100,000 in the second half of 2024, considering its April close slightly above $60,000, a 36% year-to-date (YTD) increase, and the fact that May 2024 marks the final month before the next halving cycle.
On top of that, the professional crypto trader also shared the opinion that a market peak could take place in 2025, at which time the largest asset in the crypto industry by market capitalization could potentially surpass a price of $200,000, as Finbold reported on May 2.
BTC price analysis
At press time, the current BTC price stands at $62,330, which indicates a decline of 2.73% in the last 24 hours while recording a 7.42% advance across the previous seven days and accumulating a loss of 13.90% on its monthly chart, as per the most recent data on May 8.
BTC price USD year-to-date (YTD) chart. Source: Finbold
Ultimately, Bitcoin could, indeed, reach the price range suggested by the renowned crypto expert, or at least get near it in the years to come, particularly as PlanB isn’t the only analyst making similar predictions, others including CoinRoutes chair Dave Weisberger and the $800 billion bank Standard Chartered.
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