Not long after Bitcoin (BTC) made an impressive rally that culminated with a new all-time high (ATH), a renowned cryptocurrency analyst has predicted more record-breaking peaks for the flagship decentralized finance (DeFi) asset that might catch many traders unawares.
As it happens, Bitcoin could make a sudden upward turn at any moment, without any specific trigger, ending up at $100,000, after which it might soar beyond $200,000, having “transitioned to the next phase,” as pseudonymous crypto market analyst PlanB stated in his X post published on April 9.
One day, you wake up and see bitcoin at $100k, without any important news or event. Then $200k and more. Some will say it's a bubble, others realize bitcoin transitioned to the next phase. https://t.co/Wu5KMxlDYU pic.twitter.com/YEfH4RTB69
— PlanB (@100trillionUSD) April 8, 2024
Bitcoin price 7-day chart. Source: Finbold
All things considered, Bitcoin’s historical price action around halvings indicates that the experts predicting its ensuing rally might be correct. However, some skeptics, like the crypto exchange BitMEX co-founder, Arthur Hayes, have suggested that a crypto fire sale could accompany the BTC halving date.
Ultimately, making any BTC price prediction is difficult, as it all boils down to detailed research and in-depth risk analysis before investing in any asset, particularly cryptocurrencies, as the trends in this industry can turn around suddenly, without much warning.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
