As bulls and bears battle for dominance in the cryptocurrency sector, especially the Bitcoin (BTC) market, renowned crypto analyst PlanB shares his price predictions.
The average price of bitcoin during the 2020-2024 halving cycle was $34,000, slightly below the 2019 forecast of $55,000, PlanB wrote.
Bitcoin Price Forecast 2024-2032.
With this in mind, the expert updated the S2F model with new data and determined the average price of Bitcoin for the 2024-2028 halving cycle at $500,000. As for the next cycle of 2028-2032, he believes that the main cryptocurrency will be $4 million .
PlanB recently predicted that Bitcoin would rise to $100,000 in the second half of 2024, especially given its April close of just above $60,000 (up 36% year-to-date).
At the same time, the professional crypto trader agrees that the peak of the market may come in 2025, when Bitcoin will try to exceed the price of $200,000.
Meanwhile, on the night of May 8, the price of the main cryptocurrency fell to $61,500, showing a daily decrease of 2.3%. It's hard to deny that the price of Bitcoin is currently in a downtrend.
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