Crypto Analyst Believes $200K For Bitcoin Would Be 'Underwhelming', Predicts King Crypto To Reach $500K By 2025
Portfolio Pulse from Mehab Qureshi
Cryptocurrency analyst PlanB predicts Bitcoin (BTC) could reach $500,000 by 2025, based on the stock-to-flow model. Another analyst, Rekt Capital, notes BTC is in the early stages of a breakout, having closed above a critical resistance level at $69,000. Current market conditions show BTC trading slightly up at $66,559.819 amidst minor losses and the impact of rising U.S. Treasury yields.
April 03, 2024 | 11:29 am
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Bitcoin (BTC) is predicted to potentially reach $500,000 by 2025 according to analyst PlanB, with current trading around $66,559.819. Rekt Capital also supports a bullish outlook, noting a successful breakout above $69,000.
The prediction of Bitcoin reaching $500,000 by 2025 is based on the stock-to-flow model, which is a significant indicator of future value. The current market behavior and analyst observations of a breakout above critical resistance levels support a bullish short-term impact. However, the impact of external factors like U.S. Treasury yields could introduce volatility.
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