On-chain analyst PlanB stated that he would not be surprised if the Bitcoin price rises to $524,000 in the next four years.
In his post, PlanB shares a chart showing the price at which the majority of BTC is distributed in each halving, where miners’ rewards are halved.
Based on the historical trend of Bitcoin peaking at a price nearly 4x higher than the lower end of its distribution range, PlanB says the crypto king could rise above the half-million dollar range in the next few years.
He also says that the next bull run could be more explosive than in the past due to various macro factors affecting the 2021 cycle, such as Covid-19.
During the 2012 halving, most Bitcoin was below $16.
During the 2016 halving, most BTC was in the $256-1024 range.
During the 2020 halving, most BTC was in the $4,000-$16,000 range.
At the 2024 halving, most BTC will be in the $16,000-$65,000 range.I wouldn’t be surprised if most of the BTC is transferred in the $65,000-$524,000 range in the next four years.
NEWS CONTINUES BELOW
PlanB also says that BTC will only stay below $40,000 for a while. He shared another chart showing that BTC is trading above its two-year and five-month realized price levels.
The realized price measure is the sum of all Bitcoins on-chain at the price they were last traded at, divided by the number of BTCs in circulation.
Enjoy Bitcoin under $40,000… while it lasts.
