After a few test runs, Bitcoin has officially reached its all-time high. Now it threatens to leave previous prices in the dust. As BTC expanded its run, 3 master analysts gave clues for its next move.
PlanB is waiting for the big fireworks show to start!
As a new week begins, the leading crypto rose as high as $72,211 before falling to $71,996. This move allowed fundamental and technical analysts to gauge what would happen next. Quantitative analyst PlanB, known for adapting the stock flow scarcity model to Bitcoin, says the real bull run is about to begin. The analyst expects massive fireworks to begin when BTC halving occurs next month. Because, halving will halve the amount of new BTC entering the market. In this context, the analyst makes the following statement:
Many people hated the stock-to-flow model. Because in 2022, when prices were low, it was on the downside… but every time the price was below the pattern, it went above the pattern, and it went well below the pattern. I hope so too. Actually, this is what I expect.
PlanB predicts BTC will reach at least $100,000. He also believes it will go as high as $1 million “if history is a guide.”
According to Willy Woo, this was a warm-up for Bicoin!
On-chain analyst Willy Woo admits things are just getting started. He says Bitcoin’s rise from around $16,000 in November 2022 is just warming up. The analyst refers to the Bitcoin Macro Index, which tracks the historical impact of a number of fundamental and technical metrics to chart where BTC will go next. According to Woo, this graph is just starting to break down. In this regard, the analyst shares the following assessment:
So you think we’re in a bull market? We’re not, this was just a warm-up. A fully fundamentals-based bull market is marked by a breakout of the upper blue band. When this breaks, TradFi is in for a shock.
Alex Krüger: Bitcoin is now in a supercycle!
Economist Alex Krüger says Bitcoin is currently in a supercycle. He also notes that demand for BTC will crush market supply on the way to a six-figure price tag. While the economist says the crypto is starting to show bearish signals, he notes that inflows from spot market exchange-traded funds (ETFs) could invalidate these readings and send Bitcoin higher.
Krüger also predicts Bitcoin will rise to $85,000. However, it predicts that it will witness a decline of 35% thereafter. As for the timing of BTC’s corrective move, the economist thinks it could happen close to the April 2024 halving, when rewards for BTC miners are halved. Krüger expresses the route that BTC will follow and his views as follows:
We can see something like this: $85,000 => $55,000 => $120,000 => $85,000. (…) A major correction around the halving makes sense. A larger correction around the ETH ETF rejection makes sense. Whatever the path, I expect the continuation of the rise, higher prices by the end of the year and much higher prices by the end of the cycle… Round numbers such as 100 thousand dollars should be crossed.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!