As bulls and bears continue to battle for dominance in the cryptocurrency sector, particularly Bitcoin (BTC), the flagship decentralized finance (DeFi) asset is poised for impressive price gains in the coming years, at least according to the observations of a renowned cryptocurrency trading expert.
In fact, the average Bitcoin price for the 2020-2024 halving cycle was $34,000, slightly below the $55,000 forecast for 2019, according to crypto analyst and inventor of the Stock-to-Flow (S2F) model of Bitcoin price prediction, PlanB, pointed out in an X post published on May 7th.
Bitcoin price prediction 2024 – 2032
Given this, the expert updated the S2F model with new data showing similar parameters and results, putting the average price of Bitcoin for the 2024-2028 halving cycle at $500,000, while the following halving cycle 2028-2032 will reach this value would become first crypto asset at $4 million.
Bitcoin price analysis and prediction. Source: PlanB
As a reminder, PlanB recently predicted that Bitcoin will reach the price of $100,000 in the second half of 2024, considering that the April closing price was slightly above $60,000, an increase of 36% since then The beginning of the year (YTD) and the fact that the price will be reached in May 2024 marks the last month before the next halving cycle.
Additionally, the professional crypto trader also shared the opinion that a market peak could occur in 2025, at which point the largest asset by market capitalization in the crypto industry could potentially surpass a price of $200,000, Finbold said on March 2. May reported.
BTC price analysis
At press time, the current BTC price is $62,330, down 2.73% in the last 24 hours, while it registered a 7.42% increase in the last seven days and on the monthly chart recorded a loss of 13.90% Latest data as of May 8th.
BTC price USD year-to-date (YTD) chart. Source: Finbold
Ultimately, Bitcoin could actually reach the price range suggested by the renowned crypto expert, or at least approach it in the coming years, especially since PlanB is not the only analyst to make similar predictions, but also others, including CoinRoutes chairman Dave Weisberger and the $800 billion bank Standard Chartered.
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