🚀 Bitcoin Price Predictions: From $500K in 2025 to ETF Approval and Support Levels 📈

PlanB, author of the Stock-to-Flow model, recently made a bold prediction for Bitcoin following the Bitcoin halving.

Bitcoin analyst PlanB forecasts a potential Bitcoin price of $532k after the BTC halving in 2024.

Based on historical predictions, renowned crypto analyst PlanB believes that Bitcoin could skyrocket to a whopping $500K during the mega bull run of 2025. Despite facing some selling pressure, Bitcoin has managed to hold above $43,500 levels, giving analysts confidence in its upward trajectory. In this article, we’ll delve into PlanB’s predictions, the upcoming Bitcoin ETF approval, and the crucial support levels to watch.

🏦 PlanB’s Bold Bitcoin Prediction

PlanB, famously known as the creator of the stock-to-flow (S2F) model, recently shared his reflections on Bitcoin’s journey over the years. He recalled the skepticism surrounding Bitcoin in 2015 when it was purchased for $400. However, in 2019, when BTC reached $4,000, PlanB accurately predicted a future value of $55,000 using the S2F model, proving the naysayers wrong.

Now, with Bitcoin priced at $40,000, PlanB emphasizes the significance of the S2F model once again. He projects an astounding $532,000 valuation after the 2024 halving event. Crypto analyst Michael van de Poppe finds this target feasible, considering the influx of institutional money into Bitcoin.

🚀 Where’s Bitcoin Price Heading Next?

We are eagerly awaiting the approval of the spot Bitcoin ETF, a decision that could heavily impact Bitcoin’s price. The US Securities and Exchange Commission (SEC) will conduct a vote on the 19b-4 forms in the coming days. According to Bloomberg, recent meetings between SEC officials and firms seeking approval have decreased the likelihood of rejection to just 5%.

Cryptocurrency analyst Ali Martinez has observed a significant support wall in the Bitcoin market. Approximately 1.11 million BTC were bought between the price range of $42,560 and $43,245, with buyers holding onto their Bitcoin instead of selling. This robust foundation could sustain upward momentum.

If Bitcoin manages to maintain its position above this support level, limited resistance stands in the way of further gains. However, failure to hold the range between $42,560 and $43,245 might lead to a downward trend, with the next critical support area between $26,770 and $30,220.

Image: PlanB Predicts Bitcoin Price Could Reach $532k after BTC Halving 2024

PlanB Predicts Bitcoin Price Could Reach $532k after BTC Halving 2024

🌟 Milkybull Crypto’s ETF Impact Projection

As the excitement around ETFs grows, Milkybull Crypto, a well-regarded analyst in the crypto space, predicts substantial impacts on Bitcoin’s price. They project Bitcoin to rise to $80,000 in 2024 and an astonishing $200,000 by 2025. Furthermore, Milkybull Crypto suggests that these developments could also have positive effects on Ethereum (ETH) and various altcoins in the market.

🔮 Future Outlook and Investment Strategies

Considering the confidence of influential crypto analysts, the future looks promising for Bitcoin. The ongoing institutional interest and potential ETF approval might boost Bitcoin’s price significantly. Investors may want to consider diversifying their portfolio to include other promising cryptocurrencies like Ethereum and altcoins.

💡 Quick Q&A:

Q: Will the Bitcoin ETF approval really happen? A: The approval of the Bitcoin ETF looks promising, with recent discussions between SEC officials and firms seeking approval leading to decreased chances of rejection.

Q: What are the crucial support levels for Bitcoin? A: Bitcoin has established a strong support level between $42,560 and $43,245. If this level holds, further upward movement is likely. Should it fail, the next support area lies between $26,770 and $30,220.

Q: What impact will ETFs have on other cryptocurrencies? A: The excitement surrounding ETFs is expected to have positive effects on Ethereum (ETH) and various altcoins in the market, as per projections by Milkybull Crypto.

🌐 References:

  1. Bitcoin Miners Reduce BTC Holdings as Miner Price Nears $65K
  2. Ali Martinez’s Bitcoin Support Wall Observation

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