If this price projection comes to pass, Bitcoin will be between $414,000 and $593,000. Notably, PlanB’s price prediction relies on historical patterns rather than random figures plucked from the air.
An analysis of Bitcoin’s 200-week Moving Average shows a consistent price leap pattern of a 4x jump followed by a 7x or 10x leap. Interestingly, the chart reveals that the price has climbed approximately four times from the bottom between 2022 and now.
Therefore, based on historical trends, the next leap might push Bitcoin to $414,000, or as high as $593,000 by August 2025.
A common denominator is investors’ bullish sentiment toward the world’s largest crypto asset. PlanB’s prediction aligns with previous positive sentiments by other notable analysts, who anticipate a massive run for Bitcoin once it overcomes the current resistance of $70,000.
At the time of writing, data shows Bitcoin down by 1.17% and trading at $59,585.60. With sustained interest in spot Bitcoin ETF products, the demand channel for the coin is high. Many believe its growth is only a matter of time now.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
