Recent analyses of Bitcoin’s price by analysts have largely focused on whether the leading cryptocurrency has already peaked in this cycle. A bearish sentiment is meanwhile developing among investors, raising concerns about whether BTC and the broader crypto market have entered a bear market.
Notably, crypto analyst PlanB, renowned for his stock-to-flow model and longstanding BTC predictions, has countered the increasing speculation regarding a shift to a bearish trend.
PlanB Refutes Bear Market Assertions, Claims Bear Market Has Yet to Arrive
In a post on social media platform X, PlanB presented a persuasive argument suggesting that Bitcoin is still experiencing a robust uptrend, one that could see its price double again by 2025. His intriguing perspective aligns with insights from other analysts, who are now identifying crucial bullish indicators for Bitcoin.
PlanB’s recent analysis relies on Bitcoin’s 200-week arithmetic and geometric moving averages, which are essential long-term trend indicators analysts use to differentiate between bull and bear markets. He indicated that these two averages have remained closely aligned for more than a year. This proximity of the moving averages contradicts a downward trajectory, suggesting instead a steady uptrend with diminishing volatility.
He noted that a genuine bear market typically follows a substantial bull run, marked by a significant separation between these averages. Since such divergence has not yet occurred in the current cycle, PlanB contends that the market has not seen a true bull phase, nor has it transitioned into a bear phase.
Looking Forward: Bitcoin Price Projected to Double by 2025
Elaborating on this topic, PlanB highlighted Bitcoin’s price trends over the last two years, emphasizing a steady and predictable pattern of price doubling. Bitcoin increased from roughly $20,000 in 2022 to nearly $40,000 in 2023, breaking into the $80,000 bracket in early 2024. Should this trend persist, the analyst forecasts that Bitcoin could attain $160,000 by the end of 2025.
PlanB acknowledged that such a trajectory could signify the end of the traditional four-year cycle theory that has influenced Bitcoin’s market behavior since its inception. However, this transformation would be more appropriate for a maturing asset class like BTC, which has increasingly penetrated the institutional market over the past year.
If PlanB’s doubling price trend continues, BTC might not only be on track for $160,000 in 2025, but according to his predictions, the momentum could escalate to $320,000 in 2026 and $640,000 by 2027.
These long-term bullish forecasts are certainly optimistic, yet the immediate focus remains on short-term price fluctuations, where there is much work ahead for bullish traders. The first goal is to surpass the current trading range between $80,000 and $90,000. Currently, Bitcoin is priced at $84,000, having faced rejection again at $86,500.
Featured image from Unsplash, chart from Tradingview.com
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