Although Bitcoin started May with great hopes, it lost the $ 60,000 support level and fell to $ 56,000. This situation created concern among investors in the crypto market and reminded some of the events that took place in the past. Additionally, how this price movement might affect the expected post-halving rally has been a matter of discussion.
Future of Bitcoin According to Analyst
Cryptocurrency analyst Plan B shared his thoughts on Bitcoin's future price movements. In a YouTube video at the beginning of May, he noted that the price of Bitcoin according to the stock-to-flow model fell from $60,000 to $10,000, but was up 36% from January.
According to Plan B, each halving process appears to be compatible with the stock-to-flow model, which is an important indicator in price predictions. This model stands out as a tool used to predict the future course of Bitcoin price.
Price Predictions
Plan B predicted a gradual price increase, suggesting that Bitcoin could reach $500,000 in 2024 and 2028. He also expressed confidence that Bitcoin will reach $100,000 in the second half of 2024, when he expects mining revenues to recover after the halving. The expert also stated that the price of Bitcoin has the potential to reach $ 200,000 in 2025.
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