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Senior cryptocurrency analyst PlanB suggested that he wouldn’t be surprised if Bitcoin (BTC) rose to as high as $524,000 over the next four years. The analyst discussed the implications of miners’ rewards halving every halving period on BTC’s price.
Bitcoin’s Halving Process
Analyst PlanB shared a chart with his followers on social media giant X, which showed at what price the majority of BTC was distributed after each halving when miners’ rewards were halved. Based on the historical trend that shows BTC’s distribution range being approximately four times higher than its lower limit, he claimed that the leading cryptocurrency could exceed half a million dollars in the coming years.
He also mentioned that the next bull run could be much more explosive than the past due to various macro factors that influenced the 2021 cycle, such as Covid-19. The expert stated the following in his explanations:
In the 2012 halving, most Bitcoin was under $16. During the 2016 halving, the majority of BTC ranged from $256 to $1,024. The 2020 halving had most BTC between $4,000 and $16,000. The 2024 halving will have most BTC in the $16,000 to $65,000 range. I wouldn’t be surprised if most BTC transfers in the next four years were between $65,000 and $524,000.
The BTC Buying Zone
The closely-followed analyst also suggested that BTC would only temporarily stay below $40,000. He shares another chart that shows Bitcoin trading above the realized price levels of two years and five months. The realized price measure follows the total of all Bitcoins, divided by the number of BTC in circulation at the last price they were traded on the chain. In his final comments on the subject, PlanB said:
Enjoy Bitcoin below $40,000… for this period.
In conclusion, cryptocurrency analyst PlanB indicated that Bitcoin could rise to as much as $524,000 in the next four years. The analyst supported his claim with a chart showing the halving of miners’ rewards every halving period. He also stated that the next bull run could be more explosive due to the effects of macro factors like Covid-19. PlanB suggested that Bitcoin could temporarily fall below $40,000 and advised investors to be patient during this time.
- Bitcoin may surge to $524,000 in four years.
- Halving process key to price projection.
- Next bull run could be explosive.
