Quant analyst PlanB predicts Bitcoin (BTC) will reach a cycle top of $300,000 by 2025 due to the upcoming halving event on April 19th. PlanB believes the halving, which occurs every four years and cuts miners' rewards in half, will have a bullish impact on BTC's price, as it has in the past. The analyst has observed a pattern of 2x gains in the six months leading up to a halving and in the six months following, with 4x gains between six and 18 months after.
Quant Analyst Predicts Massive Bitcoin Gains Following Halving Event
April 19th, 2023 - Renowned quantitative analyst PlanB, with a substantial following of 1.9 million on the social media platform X, has issued a bold forecast regarding the future of Bitcoin (BTC). Based on historical data and cyclical trends, PlanB projects an extraordinary surge in Bitcoin's value, potentially exceeding $300,000 by 2025.
The impetus for this bullish prediction stems from the upcoming Bitcoin halving event, scheduled for April 19th, 2023. During this event, the block reward given to Bitcoin miners will be halved, which has historically served as a catalyst for significant price increases. PlanB contends that this halving will once again be a bullish force for Bitcoin, driving its price to unprecedented heights.
PlanB's analysis focuses on Bitcoin's historical price movements around previous halving events. He observes a consistent pattern of 2x gains in the six months leading up to the halving, followed by another 2x gain in the six months after the event. Additionally, a substantial 4x gain is typically observed between six and 18 months after the halving.
"In my estimation, the upcoming Bitcoin halving will not deviate from this historical trend," PlanB states. "All significant Bitcoin price increases have coincided with halving events. Strategic trading by buying six months before the halving and selling 18 months after will yield superior returns compared to a simple buy-and-hold strategy. Bitcoin will likely surpass $100,000 in 2024, and its cycle top could reach an astonishing $300,000 by 2025."
PlanB emphasizes that this anticipated price surge is not expected to occur immediately following the halving event. He cautions that the market may experience a brief period of consolidation before the bullish momentum fully materializes.
"We should not anticipate an immediate price breakout in the days following the halving," PlanB explains. "We have already witnessed a substantial price increase from $34,000 six months before the halving to $62,000 approximately two days before the event. In my view, we can expect another 2x gain in the six to ten months following the halving. This will be followed by a final 2x-4x surge driven by fear of missing out."
At the time of this writing, Bitcoin is trading at approximately $64,489, marking a 1.5% increase over the last 24 hours. As the halving event approaches, market participants are eagerly anticipating the potential for significant price volatility and the realization of PlanB's bold predictions.
