Prepare for a Potential Bull Market by Accumulating Bitcoin
With the cryptocurrency market showing signs of a potential bull market, it might be a good time for investors to consider accumulating Bitcoin (BTC) in preparation.
Closing Window for Buying Bitcoin Below $40,000
An influential analyst in the cryptocurrency industry, known as PlanB, suggests that the opportunity for Bitcoin investors to increase their holdings below the $40,000 mark is diminishing.
In a recent tweet, PlanB, the creator of the stock-to-flow BTC price models, stated that the current price levels may not last for an extended period. He predicts that Bitcoin will reach an average price of $100,000 to $1 million during the 2024-2028 halving cycle, which means at least a threefold increase from its current value.
Bitcoin Poised for Higher Levels
PlanB believes that Bitcoin has the potential to surpass its recent 18-month high of $37,883 and go even higher. He urges investors to take advantage of the current opportunity to increase their exposure to Bitcoin while its price is still below $40,000.
The analyst supports his bullish outlook with realized price data. The realized price is calculated by dividing Bitcoin’s realized cap (the total price at which all BTC last moved) by the current supply. Currently standing just below $21,000, this data suggests that there is room for significant growth in Bitcoin’s value.
Enjoy Sub-$40k Bitcoin While It Lasts
PlanB accompanies his analysis with a chart showing that BTC/USD is once again above all three realized price iterations. With this chart, he leaves readers with a simple message: “Enjoy sub-$40k bitcoin… while it lasts.”
Hot Take: PlanB’s Bullish Prediction for Bitcoin’s Future
According to PlanB, the renowned cryptocurrency analyst, Bitcoin is expected to experience substantial growth in the coming years. He predicts that during the 2024-2028 halving cycle, Bitcoin’s price could reach an average of $100,000 to $1 million, at least tripling its current value. With this optimistic outlook, PlanB suggests that now is the time for investors to accumulate Bitcoin before its price potentially skyrockets. So if you’re considering increasing your Bitcoin holdings, take advantage of the current opportunity while Bitcoin is still trading below $40,000.
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