Bitcoin, the largest cryptocurrency in the world, is expected to experience significant price growth in the coming years, according to experts in the community. Renowned cryptocurrency analyst Plan B recently shared a positive sentiment towards BTC and made a bold Bitcoin price prediction.
In a publication on May 7, Plan B, who goes by a pseudonym, analyzed the latest market movements and highlighted the Bitcoin price forecast. The analyst noted that the average price of Bitcoin during the 2020-2024 halving cycle was $34,000, slightly below the projected $55,000 for 2019 but still within the normal range.
Plan B also shared a prediction for the Bitcoin price in the years 2024-2032. Based on data, the analyst estimated an average Bitcoin price of $500,000 for the 2024-2028 halving cycle and an even more impressive $4 million for the following halving cycle between 2028-2032.
At the time of publication, Bitcoin was trading at $62,245.98, showing a 1.7% increase in the last 24 hours.
Another cryptocurrency expert, Cathie Wood, CEO of Ark Invest, has also made a bold Bitcoin price prediction. Wood believes that Bitcoin will surpass the $1 million mark before 2030. In a recent interview, Wood emphasized the increasing institutional involvement in Bitcoin’s growth as a factor driving this optimistic forecast.
These positive predictions come at a time when Bitcoin has reached new heights, with a value of $71,800 on March 11. This milestone reflects the growing interest and confidence in the cryptocurrency market.
Wood highlighted the significant changes in Bitcoin since the launch of the first exchange-traded funds (ETFs) in the US on January 11. She expressed her strong belief in the future of Bitcoin and acknowledged that even her own company is reassessing its bullish stance on the cryptocurrency market. Ark Invest’s forecast for the Bitcoin price is $1 million by 2030.
It is important to note that the views and opinions expressed by the experts in this article are for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Bitcoin (BTC) has achieved a significant milestone by processing one billion transactions on its network.