Bitcoin’s price direction is a major discussion point among investors and traders, with conflicting bearish and bullish speculations. However, PlanB, a prominent crypto analyst on the X platform (formerly Twitter), remains optimistic about BTC’s price, especially following a recent decline in revenues for Bitcoin miners.
Bitcoin Miner Revenues Reach a Low Point
PlanB, the crypto analyst, highlighted the decreasing revenues faced by Bitcoin miners leading up to and after the halving event in April. He noted that the downward trend in revenues has now stabilized post-halving, signaling a positive development for both miner earnings and the Bitcoin price.
According to PlanB, this stabilization indicates a potential upward movement for Bitcoin in the coming months, with his forecast predicting a doubling of the current price. This projection implies that Bitcoin may surpass $100,000 in the next 2-5 months.
Miner revenue bottomed after April 2024 halving. I expect bitcoin price to double from today in 3-5 months. pic.twitter.com/JoiQ4jeE4I
— PlanB (@100trillionUSD) July 29, 2024
Forecasting Bitcoin’s Path Over the Next 5 Years
When questioned about future Bitcoin price expectations, PlanB referenced a previous analysis that outlined forecasts for the next five years, from 2024 to 2028.
In 2024, PlanB predicts that Bitcoin’s price will not only breach $100,000 but may climb as high as $150,000 by year-end. The following year, 2025, the forecast is even more ambitious, with a projected price of $800,000 for the pioneering digital currency.
Moving forward to 2026, the analyst anticipates a decrease from the 2025 figures, pegging the price at $400,000, indicating a 50% drop from the previous year’s $800,000 forecast. By 2027, PlanB foresees a further drop to $300,000 before a resurgence in 2028, expecting the price to return to $400,000.
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