Quantitative analyst PlanB is doubling down on his prediction that Bitcoin (BTC) could meteorically ascend in the next bull market.
PlanB tells his 1.8 million Twitter followers that he believes Bitcoin bottomed out at $15,500 back in November of 2022 and short-term holders are now in profit territory, a traditionally bullish signal.
The quant analyst also says that he sees the flagship crypto asset soaring above $30,000 around the 2024 halving prior to a parabolic surge in 2025.
“My two cents on Bitcoin price:
– November 2022 low of $15,500 was the bottom.
– BTC has crossed Short Term Holder (STH) and will rise into 2024 halving and subsequent 2025 bull market. Several on-chain signals confirm STH signal.
– 2024 halving will be > $32,000
– 2025 bull market > $100,000″
Bitcoin is trading at $20,878 at time of writing, up over 11% in the last 24 hours.
According to the quant analyst, the upcoming bull market will have a wide range, and it could see the flagship crypto asset go up to $1 million, an increase of about 4,689% from current prices.
“In fact, I think the bull market range will be $100,000 – $1 million, but many people don’t understand the wide margins (or the volatility that creates them), so I pinned it at the indeed comfortable $100,000.”
Should Bitcoin peak at the low end of the range, it still represents a nearly 380% increase for the king crypto.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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