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PlanB’s Bitcoin forecast: Eyeing $100k, surpassing $200k

PlanB's Bitcoin forecast: Eyeing $100k, surpassing $200k

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.

Bitcoin price prediction

At the same time, the crypto trading expert attached his X post from October 2022, in which he forecasted that Bitcoin would soar to $21,000 “without any important news or event,” after which $24,000 would be the next target, and then it would end up at $30,000 – all of which had, indeed, happened.

As a reminder, PlanB has recently pointed out that the maiden crypto asset had a new ATH before a halving for the first time ever, projecting it would inevitably hit $100,000 in 2024 and that its next top could be above $500,000 in 2025, perhaps even reaching a whopping $1 million.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $70,740, recording a decline of 2.48% in the last 24 hours while advancing 7.98% across the previous seven days, and accumulating a gain of 1.16% on its monthly chart, according to the most recent data retrieved on April 9.

Bitcoin price 7-day chart
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.

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