PlanB: Bitcoin Won't Fall Below $60,000, Likely Above $200K Post-Halving

PlanB predicts Bitcoin surpassing $200,000, potentially reaching $500,000, with on-chain indicators supporting a strong position and $60,000 as the aggressive floor.
PlanB: Bitcoin Won't Fall Below $60,000, Likely Above $200K Post-Halving

Key Takeaways

  • Bitcoin reached a new all-time high of $73,760 ahead of the halving.
  • PlanB predicts Bitcoin could exceed $200,000, potentially reaching $500,000.
  • On-chain indicators and RSI suggest strong support for Bitcoin's bullish momentum.

Bitcoin surged to a new all-time high of $73,760 on March 14, 2024.

This milestone comes as Bitcoin approaches its much-anticipated halving event.

PlanB’s bold Bitcoin predictions

PlanB, a prominent figure in the Bitcoin community and creator of the stock to flow model, predicts that the cryptocurrency could surpass $200,000 after the halving.

He bases this on the Stock-to-Flow (S2F) model, which forecasts significant price movements around halving events.

PlanB suggests that Bitcoin could even reach valuations up to $500,000 in the next halving cycle.

Strong indicators support bullish outlook

PlanB says on-chain indicators and the relative strength indicator (RSI) suggest a robust position for Bitcoin.

The five-month realized price sets a new support level at $60,000, which PlanB believes will be the floor for the Bitcoin price.

PlanB states:

That would be the aggressive floor because if we look at previous bull markets then you see Bitcoin price doesn’t go below the five-month realized price. So that’s my personal aggressive floor that I think we will not go below again.

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