Bitcoin (BTC), the cryptocurrency with the largest market cap, has seen a slight bounce since the beginning of the year. The crypto market as a whole was able to recover from the horrific crash that occurred in 2022 due to the current price recovery.
In the last day, the asset has registered a phenomenal increase of 11%. The token even briefly managed to breach the important price level of $21,000.
4600%+ price increase for BTC.
According to a quantitative analyst Plan B:He believes that Bitcoin bottomed around $15,500 in November 2022, and short-term investors are now in a profit zone, which is generally positive. PlanB claims that this suggests that the price of Bitcoin will continue to rise.
According to the quantitative analyst, he also predicts that the leading cryptocurrency asset will soar above $30,000 in 2024, followed by a parabolic rise in 2025.
The future bull market, based on quantitative analyst predictions, will have a wide range, and it is possible that the price of the leading cryptocurrency asset could reach up to $1 million. This is an increase of around 4689% from the current rates.
Table of PlanB.
The analyst then said:
“I think the bull market range will be $100,000 – $1 million, but most people don’t understand wide margins (or the volatility that creates them), so I put it at a really comfortable $100,000.”
The price of Bitcoin continues to be the main factor that keeps investors optimistic about the market. Even so, there is still potential for a sharp reversal from the positive sentiment that has emerged in recent days.
In related news, according to companymarketcap.com, Bitcoin’s market capitalization has surpassed that of banking giant Mastercard and social networking giant Meta.
After months of relatively flat prices, the cryptocurrency market has seen a resurgence, with Bitcoin outperforming big-name companies like Meta Platforms, Eli Lilly and Chevron. At the time of this writing, one bitcoin is valued at $20,475.