Bitcoin is likely to surpass $500,000 in the current bull cycle

According to Quant Analyst, PlanB, believes that Bitcoin (BTC) can achieve over 4x gains in the current market cycle.

In a new strategy session, the on-chain analyst told his 140,000 YouTube subscribers that it would be disappointing if Bitcoin ended the current bull market with a peak price of $200,000.

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PlanB said that his stock-to-flow model, which compares the number of goods in circulation divided by the amount produced annually, suggests that BTC will see an increase of more than 660% from its current price before The market cycle ends.

“So the next peak will not be this year, but next year, 2025, with some saying it will be around $200,000. However, in reality, from a stock-to-flow perspective, we have a peak much higher than $500,000. It could be $600,000 or $700,000 or even $1,000,000.”

But PlanB warns that Bitcoin's ascent may be difficult. He also predicts Bitcoin will see several corrections of 20% – 30% in the coming months on the way to achieving his price target.

Whales increase BTC accumulation

IntoTheBlock's large holder data has revealed a staggering increase in Bitcoin accumulation by whales during the recent market downturn.

Wallets holding at least 0.1% of the total Bitcoin supply have seized the opportunity to increase collection by adding nearly 33,000 BTC to wallets in just one day, representing a whopping $2 billion investment.

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