Bitrabo Editorial
With conflicting bullish and bearish views on the future of Bitcoin’s price, crypto analyst PlanB remains optimistic due to the recent dip in revenues for Bitcoin miners. The decline has now stabilized after the post-halving adjustment in April, indicating potential growth ahead for the cryptocurrency.
Stabilization of Bitcoin Miner Revenues
PlanB shared insights on Twitter about the current situation faced by Bitcoin miners. After enduring a steady decrease in revenues leading up to the halving event, miner revenues have hit a bottom. According to the analyst, this development not only benefits miners but also sets the stage for a positive trend in Bitcoin’s price over the coming months, potentially doubling from its current level.
PlanB’s forecast suggests a significant milestone – Bitcoin breaking the $100,000 barrier. The timeline for this surge is projected to be within the next 2-5 months, hinting at a potential breakthrough later this year.
Miner revenue bottomed after April 2024 halving.
I expect bitcoin price to double from today in 3-5 months. pic.twitter.com/JoiQ4jeE4I— PlanB (@100trillionUSD) July 29, 2024
Bitcoin Price Projections for the Next 5 Years
In a broader outlook on Bitcoin’s future, PlanB referenced a previous analysis covering the next five years, from 2024 to 2028. The predictions showcase an upward trajectory for the cryptocurrency.
By the end of 2024, PlanB anticipates Bitcoin surpassing $100,000 and aiming for $150,000. The following year, 2025, sets a more ambitious target of $800,000 for the digital asset.
However, in 2026, a correction is expected with a projected value of $400,000, marking a 50% reduction from the previous year’s forecast. The trend continues with a decline to $300,000 in 2027 but rebounds in 2028 with a return to the $400,000 mark.