PlanB Predicts Bitcoin Price Doubling by 2025 Amidst Bear Market Speculations
Crypto analyst PlanB asserts that Bitcoin is in an uptrend despite bearish sentiment, projecting a potential doubling in price by 2025 to $160,000. He argues that a genuine bear market has not yet been established, citing long-term moving averages. If this trend continues, Bitcoin could reach even higher values by 2027, although immediate challenges remain.
Recent analyses surrounding Bitcoin’s price have raised questions about its potential peak in the current cycle. Amidst growing bearish sentiment, speculation is rife regarding whether Bitcoin and the broader cryptocurrency market have entered a bear phase. However, renowned crypto analyst PlanB, known for his stock-to-flow model, contests this notion, asserting that Bitcoin remains in a robust uptrend that may see its price double by 2025.
On the social media platform X, PlanB outlined his rationale for believing Bitcoin’s price is set to increase, stating it is essential to resort to long-term trend indicators such as the 200-week arithmetic and geometric moving averages. He indicated that the proximity of these two averages for over a year signals a steady uptrend, countering the notion that a bear market has emerged.
According to PlanB, a genuine bear market often follows a pronounced bull run, marked by a significant divergence between the two mentioned averages. Since this divergence is absent in the current cycle, he argues that Bitcoin has not yet encountered a true bull phase, nor has it transitioned into a bear phase.
Examining Bitcoin’s trajectory over the past two years, PlanB highlighted a consistent doubling of the cryptocurrency’s value. He pointed out that Bitcoin ascended from about $20,000 in 2022 to roughly $40,000 in 2023, and then to the $80,000 level in early 2024. If this trend persists, PlanB anticipates Bitcoin could reach $160,000 by the conclusion of 2025.
He acknowledged that if this doubling trend continues, it may signal a departure from the traditional four-year cycle theory historically associated with Bitcoin. This adaptation appears more fitting for Bitcoin as an emerging asset class integrated deeper into institutional markets over recent years.
According to his bullish outlook, if Bitcoin’s current pace continues, it might not only reach $160,000 in 2025 but could trade at $320,000 in 2026 and potentially soar to $640,000 by 2027. While these long-term targets are extremely optimistic, the immediate challenge lies in overcoming the resistance levels within the current price range of $80,000 to $90,000. At present, Bitcoin is trading at $84,000 after having faced rejection at $86,500, highlighting the obstacles to upward momentum.
In summary, PlanB presents a compelling case that Bitcoin is not experiencing a bear market, emphasizing its position within a sustained uptrend. His analysis suggests the potential for Bitcoin to double by 2025, with optimistic long-term predictions reaching as high as $640,000 by 2027. However, the current focus remains on short-term trading challenges as Bitcoin seeks to break through resistance levels.
Original Source: bitcoinist.com
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