In a recent prediction by crypto analyst “Plan B,” it was forecasted that Bitcoin’s price would surpass $300,000 by 2025, with expectations of reaching $100,000 by December 2024. The forecast is fueled by the upcoming Bitcoin halving event, which occurs every four years and reduces the rate at which new coins are created by half. Plan B’s prediction is based on the Stock-to-Flow model, which evaluates Bitcoin’s scarcity by comparing the circulating supply to the new supply entering the market. As the supply of new Bitcoins decreases due to halving events, the scarcity of Bitcoin increases, potentially leading to higher prices in the future.
Plan B also shared insight regarding the timing of buying and selling Bitcoin around the halving event. The strategy involves buying Bitcoin around six months before the halving and selling shortly after, within a timeframe of around 18 minutes. This strategy is based on the concept that Bitcoin’s price typically rises leading up to and following a Halving event due to the reduction in supply. Plan B believes that this strategy will outperform the conventional “buy and hold” trade concept, which involves holding onto Bitcoin for a long period regardless of short-term price fluctuations.
Plan B further expressed the sentiment that Bitcoin will perform better than gold, stating that Bitcoin’s scarcity will be twice that of gold after the halving. The initial $300,000 price projection is considered conservative within the estimated range of $250,000 to $1 million. Plan B’s Bitcoin forecast aligns with other industry experts such as Cathie Wood from Ark Invest, Standard Chartered Bank, and Robert Kiyosaki. Wood forecasted that BTC’s price could soar to $2.3 million per coin, while Standard Chartered Bank raised its year-end forecast to $150,000 and projected a peak of $250,000 in 2025.
Robert Kiyosaki predicted Bitcoin’s price to rise to $100,000 by June 2024, emphasizing the importance of starting investment, even if only for a small amount. Glassnode also predicted that spot Bitcoin ETFs would be major catalysts in pumping BTC’s price in 2024, with around $70 billion of new capital projected to enter the market via these Bitcoin products. The Bitcoin price is currently trading around $63,400, marking a 3.46% rise in the last 24 hours. With the Bitcoin halving approaching, enthusiasts and global communities eagerly anticipate a potential bullish run in the market.
Overall, the positive sentiment surrounding Bitcoin’s future price trajectory is largely based on the upcoming halving event, the increasing scarcity of Bitcoin, and growing institutional interest in the cryptocurrency. While there are differing projections and estimates, the general consensus among experts is that Bitcoin’s price will continue to rise in the coming years, potentially surpassing significant milestones such as $100,000 and even $300,000 by 2025. With various catalysts such as spot Bitcoin ETFs expected to drive investment and inflows of capital into the market, the future outlook for Bitcoin remains bullish in the eyes of many analysts and industry experts.
