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.
Picks for you
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.
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.
