Coin Edition -
- Crypto Trader and analyst “PlanB” predicts Bitcoin will hit $55K before the halving.
- The analyst predicted a price target between $50K – $60K in the next four months.
- Bitcoin is expected to hit $532K by 2025, driven by sustained bullish movements.
In a recent video on YouTube, cryptocurrency trader and analyst “PlanB” predicted that Bitcoin would hit $55K by the halving, which is expected to happen sometime around April. The halving which slashes Bitcoin miners’ rewards is seen as a bullish signal, given previous historic rallies.
The analyst said the leading digital asset will rise even further in the next couple of months. On how high it could go, PlanB predicted between $50K–$60K in the next four months.
Furthermore, the analyst predicted that Bitcoin would rise even further post-halving and could hit $100K by year-end. In the long term, PlanB said that Bitcoin’s price rise will be a slow pump to pinch $532K by 2025.
Meanwhile, the analyst pointed out that based on his Stock-to-Flow model, Bitcoin is currently in an accumulation stage. What follows this stage, as per the analyst, is a bullish pump based on the model mentioned above.
The prediction highlights rising expectations for the pioneer cryptocurrency network. Since late last year, expectations of an imminent Spot Bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC) spurred upward rises in cryptocurrency prices.
However, an ETF rejection scare by Matrixport earlier this week led to a flash crash in the crypto market. As a result, Bitcoin dipped to $40K levels just after it crossed $45K, beating the 2023 ATH.
Following renewed optimism in an assured ETF approval, Bitcoin’s prices have recovered in the past day. At press time, the digital asset is trading at $43,894, following a 1.84% rise in the last 24 hours, CoinMarketCap data reveals.
According to PlanB, Bitcoin will grow exponentially in the next ten years. Similarly, PlanB said the token’s price will see a 10x increase from current levels.
The post Analyst Sets Bold Targets: Bitcoin at $55K Pre-Halving, $532K by 2025 appeared first on Coin Edition.