Analyst PlanB has stated that the current halving cycle is no different from previous ones. He anticipates Bitcoin reaching $100,000 in 2024 and peaking at $300,000 the following year.
In his view, the best strategy remains buying the leading cryptocurrency six months before the block reward halving and selling it 18 months after the event.
“Bitcoin should replace gold because its scarcity/Stock-to-Flow model will double. My ‘maximum’ of $300,000 is the lower bound of a range from $250,000 to $1 million,” the expert added.
Responding to a user’s question, Plan B emphasized that nothing will change two days after the halving. However, he noted a “slight” price increase — from $34,000 in October 2023 to $62,000 at present.
The expert suggested a further doubling in the 6-10 months following the miners’ reward halving, followed by another two-to-fourfold increase at the “top of FOMO.”
Meanwhile, MN Trading founder Michaël van de Poppe shared some of his market expectations. He forecasts Bitcoin consolidation and a “bounce” of altcoins in pairs with the leading cryptocurrency.
The altcoin season will begin in the summer, with a significant correction expected in the third quarter, the analyst believes.
Previously, Animoca Brands founder Yat Siu expressed confidence in Bitcoin reaching the $1 million mark.
Earlier, Euro Pacific Capital President Peter Schiff expressed skepticism about the ability of Bitcoin exchange-traded funds to raise the base asset’s price to $100,000.
