Bitcoin (BTC) Price Will Never Drop Below $40K Again? PlanB’s Analysis
The 5-month BTC realized price is at $40,000.
With almost all losses from the post-ETF-approval apocalypse already erased and the upcoming halving, which tends to serve as a catalyst for future price increases, the crypto community continues to speculate how high Bitcoin can go this year.
PlanB, the popular analyst behind the Stock-to-Flow model, believes the asset will not go below $40,000 due to its realized price.
Never Again Below $40K?
The primary cryptocurrency has already gone through a real rollercoaster since the start of the year, induced by the ETF approvals in the States. As many speculated, the launch of these products indeed became a sell-the-news event , with BTC’s price falling by ten grand in a few weeks after they reached the US markets.
Nevertheless, the asset managed to recover approximately all losses and earlier today pumped to nearly $45,000. According to PlanB, this retracement to sub-$40,000 levels was somewhat unexpected and might not happen again.
This is because of Bitcoin’s realized prices on different scales. The popular analyst indicated that the overall BTC realized price is up from last month and is currently at $23,000.
The 2-year realized price is at $32,000 and the 5-month is at $40,000. As such, BTC’s current market price of almost $45,000 means the asset is above all of those realized prices, which PlanB categorized as a “very bullish sign.” He also speculated that Bitcoin’s market price might never go below $40,000 again.
Realized prices are all increasing, and bitcoin is above them all = bullish. Also, 5M realized price (currently $40k) acts like a floor for the dips in bull markets (red arrows). So .. never below $40k again?
More info here: https://t.co/r5jEOGC3QS pic.twitter.com/aemAq8Q3C8— PlanB (@100trillionUSD) February 8, 2024
Major Bitcoin Price Predictions
With the ETF approvals already a fact and the fourth halving scheduled to take place within two months, the community is focused on giving their predictions about BTC’s price movements in the next year or so.
A recent study by Bitget forecasted a price tag of $150,000 for the asset in the near future, which would mean more than double its previous ATH of $69,000. Interestingly, the author of the Rich Dad Poor Dad best-seller – Robert Kiyosaki – had a similar price prediction .
Fundstrat’s Tom Lee also sees BTC going somewhere between $100,000 and $150,000 this year but also shooting up to $500,000 by the end of the decade.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI Sell-off Hits Anthropic IPO, Potential Valuation Expected to Drop to $1.2–1.3 Trillion
The valuation range discussed by potential investors has been lowered from the previous high of $2 trillion to between $1.2 trillion and $1.3 trillion, and some strategists have even suggested going below $1 trillion to ensure safety. In the face of significant market volatility and financial concerns such as quarterly losses, Anthropic is facing tough decisions, including a discounted valuation, reducing the size of the offering, or postponing the listing.
Moderna Q3 revenue up 29% year-on-year, far exceeding expectations, raises full-year revenue growth guidance to 15%-25% | Earnings Report Insight
Moderna's Q3 revenue increased by 29% year-on-year to $1.31 billion, with profits significantly exceeding expectations. The company raised its 2026 revenue growth guidance to 15%-25%. The ramp-up of next-generation COVID-19 and flu vaccines, along with international market expansion, has driven performance improvement. Phase III data for the personalized cancer vaccine has also shown positive progress. The company is simultaneously advancing cost reduction and pipeline R&D, with year-end cash expectations significantly raised.
Eli Lilly (LLY.US) "lowers its stance" and joins forces with former rival Hims (HIMS.US) to compete for the self-pay weight loss drug market
Eli Lilly is collaborating with Hims & Hers Health, leveraging the telehealth company’s large customer base to expand access to its blockbuster weight loss drugs and boost sales of medications, including its new oral weight loss drug Foundayo.
Crypto prices
More
