With bitcoin hovering around $37,000, industry experts are predicting a significant rally after it halves in April 2024, with projections suggesting a potential rise to between $100,000 and over $130,000 by the end of 2025. The crypto community is watching the market closely as prominent figures in the space share their predictions.
On Sunday, a well-known figure in the cryptocurrency industry, commonly referred to as the Titan of Crypto, made an announcement predicting a pre-halving rally that could see bitcoin prices soar as high as $50k. This prediction is in line with his previous expectation of a 220% increase following bitcoin’s rebound from its two-year low of $15,600. According to Titan, overcoming resistance near $40k is a critical milestone ahead of the halving event scheduled for April 2024.
Analysts like DecenTrader’s Filbfilb support the bullish outlook, but also caution that occasional dips are likely amid the overall growth trajectory. This sentiment is echoed by data from CoinMarketCap today, which shows BTC trading near $37,000, still below some analysts’ earlier predictions, but holding steady in anticipation of future gains.
In addition to these predictions, PlanB’s Stock-to-Flow (S2F) model provides further insight into bitcoin’s potential performance. As of today, according to PlanB, BTC is expected to hold above $32,000 during its yellow-coded pre-bull market phase, and could transition into a red-coded full-fledged bull market after the halving event, or possibly sooner if spot bitcoin ETFs are approved. The upcoming halving will reduce the bitcoin mining reward to 3.125 BTC per block, an event historically associated with price increases.
PlanB also cited community interest in buying bitcoin at pre-halving prices such as $29,000, citing logarithmic regression and S2F data predicting a post-halving surge to unprecedented highs. Although the current price of BTC does not meet his prediction of $100,000 by the end of 2023, PlanB maintains an optimistic long-term forecast with the potential for bitcoin to reach $1 million by 2025.
