Crypto expert PlanB makes shocking Bitcoin prediction for June 2024
After reclaiming the crucial psychological milestone of $71,000, Bitcoin (
BTC
) appears to be on track to reach the highly optimistic price target set by a well-known cryptocurrency analyst, who believes it could happen sooner rather than later.
The flagship decentralized finance (
DeFi
) asset could potentially reach the price target of at least $100,000 in the near future, as outlined in the analysis by the pseudonymous crypto trading expert
PlanB
. PlanB shared his insights on the leading crypto asset in a recent video on his YouTube channel on June 1.
According to PlanB’s 200-week moving average (
MA
) chart, Bitcoin is poised to hit $100,000 shortly, aligning with his previously shared stock-to-flow (S2F) model, which also predicts the largest asset in the crypto market by market capitalization heading towards this significant price level.
Earlier in mid-May,
PlanB
suggested that Bitcoin miner revenue typically rebounds within two to five months after the halving, leading to a sharp increase in Bitcoin’s price. As it turns out, June 19 will mark two months since the last Bitcoin halving, indicating that the vertical price movement could potentially occur shortly after this date.
At present, Bitcoin is trading at $71,030, showing a slight increase of 0.12% in the last 24 hours and a more notable gain of 4.60% over the past week. In the last month, the cryptocurrency has advanced by 11.50%, based on the latest chart data as of June 6.
All signs point to Bitcoin potentially reaching a new all-time high (ATH) of $100,000 in the coming weeks, as predicted by the crypto analyst. However, it is important to note that the crypto market can be unpredictable, so conducting thorough research before making investment decisions is crucial.
Please note that the information provided in this article should not be considered as investment advice. Investing in cryptocurrencies is speculative and carries risks to your capital.
