Crypto currency analyst PlanB has suggested that Bitcoin (BTC) could rise to $524,000 in the next four years. The analyst discussed the effects of miner rewards halving every halving period on BTC price.
PlanB shared a chart with his followers on social media platform X, showing the price at which BTC was mostly distributed after each halving, when miner rewards were halved. Based on the historical trend that shows BTC’s distribution range to be about four times higher than its lower limit, he claimed that the leading crypto currency could exceed half a million dollars in the coming years.
He also said that various macro factors affecting the 2021 cycle, such as Covid-19, could make the future bull run much more explosive than in the past. The expert made the following statements:
“In the 2012 halving, most Bitcoin was below $16. In the 2016 halving, the majority of BTC was between $256 and $1,024. In the 2020 halving, most BTC was between $4,000 and $16,000. For the 2024 halving, I think most BTC will be between $16,000 and $65,000. I wouldn’t be surprised if most BTC transfers in the next four years are between $65,000 and $524,000.”
PlanB suggested that BTC would only temporarily fall below $40,000 and shared another chart showing Bitcoin trading above the realized price levels of two years and five months. The realized price measurement follows the total of all Bitcoins by dividing the number of BTC in circulation based on the price they last transacted on the chain. In his final comments on the subject, PlanB said:
“Enjoy this period while Bitcoin is below $40,000…”
In conclusion, crypto currency analyst PlanB indicated that Bitcoin could rise to as much as $524,000 in the next four years. The analyst supported his claim with a chart showing that miner rewards halve every halving period. He also pointed out that the next bull run could be more explosive due to the effects of macro factors such as Covid-19. PlanB suggested that Bitcoin could temporarily fall below $40,000 and advised investors to be patient during this time.