PlanB, the anonymous analyst behind the accurate Bitcoin price predictions, has released his updated forecast for 2024 and 2025. In his latest video, he analyzes the Bitcoin market using seven charts and paints an optimistic picture for the future of the cryptocurrency.
PlanB's Stock-to-Flow model predicts a Bitcoin price of $500,000 by the end of 2024. The analyst expects the price to rise steadily in the coming months, potentially reaching $100,000 by the end of the year.
The Bitcoin market cycle indicator continues to show signs of a bull market, with a 25% drop normal at this stage. Technical indicators like the RSI and 200-week moving average also suggest a positive trend.
On-chain metrics like realized price and Bitcoin in profit further support the bullish outlook. The realized price is at $29,000, while the 2-year realized price is at $45,000. Bitcoin in profit, however, has declined as buyers are making losses at $70,000.
PlanB acknowledges that there are risks that could impact the Bitcoin price. These include geopolitical events, regulation, and a general market sell-off. However, he remains firmly convinced that the fundamentals for Bitcoin are still strong and that the cryptocurrency will continue to rise much higher in the long term.
Overall, PlanB's forecast paints a positive picture for the future of Bitcoin. The analyst expects the Bitcoin price to rally significantly in the coming years, potentially even breaking the $200,000 mark by 2025. Whether PlanB will be right again remains to be seen. Time will tell if his bullish prediction comes true.
Watch the Video here: