Crypto analyst: 'Bitcoin price to all-time high within 4 months'

Source: newsbit.nl - 19-12-2023

Popular Dutch analyst PlanB says Bitcoin could go to a new all-time high within four months. In a new video on YouTube, PlanB says he expects a new price record for Bitcoin before the April 2024 halving.

Increase of 50 per cent in four months

To reach a new all-time high, the Bitcoin price needs to rise 50 per cent over the next four months.

"I think it is very possible. Indeed, if the ETF is approved for halving, and I think everyone is looking at January for that, I think we will have the all-time high in the pocket. In fact, the $69,000 price would then be a low guess. I think we will shoot straight to the $100,000 mark," said a very optimistic PlanB.

If PlanB looks down, the analyst expects the share price not to go below $25,000 again. Unless we get a big unexpected negative event (black swan) that turns everything upside down.

Are we still going to drop?

"We may dip if we see a black swan. Something we don't expect like during the last halving in 2020, where the COVID-19 pandemic started two months before. That was a giant black swan.

Something like that could happen again, but I don't see that on the horizon at the moment. I don't think there will be a black swan and I think Bitcoin is on course for the next bull market, without crashing to the $25,000 mark. Indeed, I say I would be surprised if we ever get below $35,0000 again.

For now, Bitcoin is back on a nice plus 5 per cent today and is back at the $43,000 mark. In that respect, the digital currency has started the day quite nicely.