The community estimates that the largest cryptocurrency Bitcoin (BTC) will achieve impressive price advances in the coming years. This estimate and positive sentiment towards BTC was shared in remarks made by a renowned cryptocurrency expert.
In a post on X, on May 7, the trading expert, with the pseudonym Plan B, observed the latest movements and highlighted a Bitcoin price prediction. The average price of Bitcoin for the 2020-2024 halving cycle was US$34,000, below the forecast of US$55,000 for 2019, as highlighted by the analyst.
In his analysis, the expert shared a prediction for the price of Bitcoin between the years 2024-2032. With this, Plan B, based on data, revealed in its prediction an average Bitcoin price for the 2024-2028 halving cycle at US$500,000, while the following halving cycle, between 2028-2032, would reach an impressive US$ $4 million.
“The average price of bitcoin in the 2020-2024 halving cycle was $34,000. Slightly below the 2019 S2F forecast of $55K, but still in the normal range and not bad given BTC <$4K when the forecast was made. The S2F reform with new data (below) shows similar parameters and results: US$ 0.5 million 2024-2028 and US$ 4 million 2028-2032”, wrote the expert.
Average bitcoin price 2020-2024 halving cycle was $34k. A bit below 2019 S2F prediction of $55k, but still in normal range and not bad given BTC<$4k when prediction was made. Refit of S2F with new data (below) shows similar parameters & results: $0.5m 2024-2028 and $4m 2028-2032 pic.twitter.com/fV4EM9DOX5
— PlanB (@100trillionUSD) May 7, 2024
At the time of publication, the price of Bitcoin was quoted at US$62,245.98, up 1.7% in the last 24 hours.
Cathie Wood Highlights Bitcoin Price Prediction Above $1 Million Before 2030
When updating her prediction for the price of Bitcoin (BTC), Cathie Wood, the renowned CEO of Ark Invest, highlighted that the largest cryptocurrency will surpass the $1 million mark before 2030. During a recent interview with the New Zealand Herald, Cathie Wood emphasized “new expectations for institutional involvement” in Bitcoin’s growth.
The optimistic forecast comes amid a historic feat for the world of cryptocurrencies, with Bitcoin marking a new peak, reaching the impressive value of US$71,800, on March 11. This advance in the asset also reflects the vigorous interest and growing confidence in the cryptoactive market.
Cathie Wood highlighted Bitcoin’s change since the launch of the first exchange-traded funds (ETFs) in the US on January 11. In his statements, Wood reaffirmed his extreme conviction regarding the future of Bitcoin.
The CEO of Ark Invest and Bitcoin enthusiast emphasized that the growing interest and momentum behind ETFs is forcing even the company to reassess its bullish stance on the market’s largest cryptocurrency. The company’s forecast for the price of Bitcoin was US$1 million by the year 2030.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/especialista-compartilha-previsao-para-preco-do-bitcoin-entre-2024-2032/
