Crypto analyst PlanB believes Bitcoin will reach $100,000 this year, despite the current market dip.
Reasons for Optimism
- Stock-to-Flow Indicator: PlanB uses this indicator to suggest that $100,000 is just the starting point, with an average price of $500,000 possible.
- High Demand: PlanB argues that Bitcoin’s limited supply and growing demand will drive up its price.
Price Projections
- 2024: PlanB predicts Bitcoin will reach $100,000.
- 2025: The price could peak at $1 million, according to PlanB’s analysis.
Volatility Expected
PlanB warns that even in a bull market, there will be significant price swings. Investors should expect dips of up to 30%, which are normal and should not cause panic.
Other Analysts’ Views
- Samson Mow: The CEO of Jan3 also predicts Bitcoin could hit $1 million, citing the supply-demand imbalance.
- Alex Thorn: Head of Research at Galaxy Digital reminds investors that bull markets also experience price corrections.
