As hovers around $37k, industry experts anticipate a significant rally post-April 2024 halving, with projections suggesting a potential rise to between $100k and over $130k by late-2025. The crypto community is closely watching the market as prominent figures in the space share their forecasts.
On Sunday, a well-known figure in the cryptocurrency industry, commonly referred to as Titan of Crypto, made an announcement predicting a pre-halving rally that could see Bitcoin prices soar up to $50k. This prediction aligns with his previous expectation of a 220% increase following Bitcoin’s rebound from its two-year low at $15,600. According to Titan, overcoming the resistance near $40k is a critical milestone ahead of the halving event scheduled for April 2024.
Analysts like Filbfilb from DecenTrader support the optimistic outlook but also caution that occasional dips are likely amidst the overall growth trajectory. This sentiment is echoed by data from CoinMarketCap today, which shows BTC trading near $37k, still below some analysts’ earlier forecasts but holding steady in anticipation of future gains.
In addition to these predictions, PlanB’s Stock-to-Flow (S2F) model provides further insight into Bitcoin’s potential performance. As of today, according to PlanB, BTC is expected to sustain above $32K during its yellow-coded pre-bull market phase and may transition into a red-coded full-blown bull market after the halving event or possibly sooner if spot Bitcoin ETFs receive approval. The upcoming halving will reduce the Bitcoin mining reward to 3.125 BTC per block, an event historically associated with price increases.
PlanB also referenced community interest in purchasing Bitcoin at pre-bull season prices such as $29K and cited logarithmic regression and S2F data predicting an ascent towards unprecedented highs post-halving. Despite BTC’s current price not meeting his end-of-2023 prediction of $100K, PlanB maintains an optimistic long-term forecast with potential for Bitcoin to reach up to $1M by 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.