Bitcoin (BTC) Price Predicted to Reach $500,000 in 2025
Many crypto analysts and experts are quite optimistic about the determination of Bitcoin (BTC) price to rise to unprecedented levels in a short time. The latest is the $500,000 prediction from PlanB, a well-known Bitcoin advocate and market trader.
PlanB Predicts $500,000 Bitcoin Price ATH
PlanB, known as the founder of the Stock-2-flow (S2F) model, used “free speech” social media app X to outline his thoughts on the future outlook of the flagship cryptocurrency.
He initially emphasized his consistency in providing guidance on Bitcoin price and market sentiment. PlanB highlighted a post from October 2022 in which he stated that the 2024 Bitcoin halving will cause scarcity and trigger the price of the cryptocurrency. To emphasize his point, he referred to the previous Bitcoin halving years of 2012, 2016 and 2020, which came with a price increase.
PlanB does not think that 2024 will be different from these historical years. According to his latest forecast, Bitcoin is expected to climb to $100,000 before the end of this year and experience an even bigger price increase of $500,000 by 2025.
The crypto enthusiast listed several events, including Bitcoin halving and Bitcoin’s 2025 price increase, reflecting his positivity about Bitcoin’s future. Of the five items it included in its list, PlanB attributed the rise to the April 2024 halving, with the Stock-to-Flow (S2F) Model halving the value around $55,000, suggesting that the pumping after the halving is complete.My forward guidance for 2024 and 2025 remains unchanged since October 2022 (when bitcoin was below 20k!):
Rising towards the April 2024 halving
The value of the S2F model has been halved around 55 thousand dollars
pump after halving
2024: BTC exceeds 100 thousand dollars
2025: Achieve $0.5 million S2F target (range $0.25 million to $1 million)
— PlanB (@100trillionUSD) June 5, 2024
Bitcoin is on the Way to Reach $100 Thousand
According to PlanB’s prediction, the next milestone will be to push Bitcoin to $100,000 this year.
This feat may not be difficult for Bitcoin, given that it currently faces almost no resistance in its quest to reach the all-time high (ATH). IntoTheBlock data shows that the coin found support between $68,730 and $70,833. Accordingly, the Bitcoin price is heading towards $ 80,000 at the end of June and $ 100,000 at the end of the year.
This speculation supports Galaxy Digital CEO Mike Novogratz’s previous stance on Bitcoin price. Novogratz explained that if the price of the asset rises to $73,000 next week, it could rise to $100,000 by the end of the year.
While the journey to $100,000 is closer than expected, PlanB’s $500,000 prediction seems like a high number that Bitcoin will reach in a few months. This was one of the highest Bitcoin price predictions in the last few weeks.
At the time of writing, the price of the coin was $70,843.97, up 1.88% in 24 hours.
Read More: Bitcoin Price Rises to $74K But Ethereum Shows More Potential: QCP Capital
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-life applications of blockchain technology and innovations to ensure mainstream acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and sites. Benjamin Godfrey is a lover of sports and agriculture. follow him excitementLinkedIn
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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