- Renowned analyst Willy Woo has predicted that Bitcoin’s value could remain consistently above $30,000 in the near future.
- Earlier this week, Markus Thielen, the head of research at Matrixport, claimed that it seemed “inevitable” for BTC to surpass $40,000.
- Bitcoin advocate Dan Held, supporting Plan B’s perspective, agreed that Bitcoin below $40,000 would not last long.
According to analysts’ reviews, the Bitcoin price could soon reach $40,000 and may not drop below $30,000 again!
Bitcoin Price Could Be Ready for $40,000!
Renowned analyst Willy Woo has predicted that Bitcoin’s value could remain consistently above $30,000 in the near future. Earlier this week, this statement was supported by a realized price chart presented by Plan B, the developer of the stock-to-flow (S2F) price model, with a call to enthusiasts to “enjoy Bitcoin below $40,000.”
Currently, the value of Bitcoin is hovering just below $38,000, and there is a strong bull market and a high sense of optimism about the future pricing of the leading crypto asset. Markus Thielen, the head of research at Matrixport, claimed earlier this week that it seemed “inevitable” for BTC to surpass $40,000, especially following Binance’s agreement with the U.S. Department of Justice. Thielen and his team estimate an 80% probability of BTC surpassing $40,000 by December.
Supporting the views of the S2F model’s architect Plan B, another advocate of Bitcoin, Dan Held, anticipates a jump to the $40,000 threshold. On November 24, he stated, “Enjoy Bitcoin below $40,000…” Responding to questions about potential price drops, Plan B emphasized that he doesn’t like playing the game of “picking up pennies in front of a steamroller” and highlighted his expectation of a significant increase in Bitcoin value, saying:
“In the 2024-2028 halving cycle, I expect an average Bitcoin between $100,000 and $1,000,000, so at least a 3x from here.”
Another perspective supporting the $40,000 target
Bitcoin advocate Dan Held, supporting Plan B’s perspective, agreed that Bitcoin below $40,000 would not last long. Another Bitcoin enthusiast expressed that prices below $40,000 are a “gift.” Additionally, Plan B shared a “realized price” chart for Bitcoin (BTC) as part of his analysis. This chart reflects a repeating pattern that aligns with a five-month ‘realized price’ threshold, signaling a bullish trend whenever it corresponds.
According to the analyst, the price line is currently just above the five-month realized price. Throughout history, such alignment has heralded significant price increases. Plan B’s views follow the recent projection by Willy Woo, who, by displaying a cost basis density map for Bitcoin, suggested that “if current trends continue, BTC probably won’t fall below $30,000 again.”
