What Does the Future Hold for Bitcoin in June 2024? An esteemed cryptocurrency analyst has put forth a bold prediction regarding the largest cryptocurrency’s price movements, foreseeing a substantial increase this month. Could Bitcoin Reach $100,000?
In a recent analysis shared on his YouTube channel, the pseudonymous cryptocurrency trading expert known as PlanB emphasized in his forecast that BTC could potentially reach the price target of “at least the $100,000 level we should see soon.”
As depicted in the analyst’s 200-week moving average (MA) chart, the leading crypto asset is honing in on a $100,000 price target in the near future. This latest Bitcoin forecast aligns with the previously shared stock-to-flow (S2F) model, which anticipates BTC’s trajectory towards this milestone.
Expert Believes Post-Halving Bitcoin Boom is Imminent
During a recent technical analysis, cryptocurrency expert PlanB highlighted Bitcoin’s entrance into a phase characterized by potential price surges, historically coinciding with upticks in the dominant crypto asset. In a YouTube video, the analyst provided an update on his stock-to-flow (S2F) model.
Historically, PlanB’s model has signaled the commencement of robust bull runs following Bitcoin halvings. “It is the first month after the halving and the beginning of a new cycle. So, in my opinion, Bitcoin will boom after the halving, as it did in the last halving cycle in 2020, and in the previous cycle in 2017, and also after the halving in 2012, in 2013. So, I think we will see a rise again and of course, this is the core of the stock-to-flow model, but time will tell.”
Bitcoin Trends Today, June 6, 2024
Bitcoin’s price is striving to maintain stability above the $70 mark, reaching a peak of $71,488 today. At the time of this report, the Bitcoin price was quoted at US$71,176.20, marking a 1.1% increase in the last 24 hours. Over the past week, the BTC price has surged by 4.6%.
Disclaimer: The opinions and views expressed by the author, or any individuals mentioned in this article, are strictly for informational purposes and should not be regarded as financial or investment advice. Investing or trading cryptocurrencies carries inherent risks of financial loss.
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Bitcoin Price Prediction for June 2024 Will BTC Reach 100K