In the cryptocurrency world, many experts are watching Bitcoin closely to predict its future. Recently, popular analyst PlanB suggested that Bitcoin’s current trend is similar to the period just before its massive rise in 2017. PlanB, who has 1.9 million followers, mentioned that Bitcoin is in the fourth month of a bull market, shown by four red dots on his chart.

Current Bitcoin Trends Resemble 2017

PlanB highlighted that back in 2017, Bitcoin was priced around $1,200 but then skyrocketed to $20,000 by the end of the year. This comparison has intrigued many investors. For the latest updates in technology, you can visit NEWSLINKER.

In his analysis, PlanB looked at various realized cost price indicators, including five-month, two-year, and total realized cost prices of Bitcoin. His chart shows that Bitcoin’s current price is above all these metrics, which he believes indicates that Bitcoin may not stay at its current levels for long.

Potential for Significant Price Increase by End of 2024

PlanB’s predictions extend beyond the current market situation. He believes that by the end of 2024, Bitcoin could experience a substantial price increase due to a historical link between miner revenue and price movements. As the sector recovers from the halving event, he anticipates that Bitcoin’s price could rise significantly. This forecast offers hope to investors looking towards the future.

However, PlanB’s views are not without debate. Predicting Bitcoin’s future is difficult due to its volatile and unpredictable nature. Despite this, PlanB’s large following indicates that his insights are influential in the cryptocurrency community.

While different analysts have various predictions about Bitcoin’s future, PlanB’s analysis is particularly notable. Investors need to watch the market closely and make decisions based on their risk tolerance. As of now, Bitcoin is trading at $66,847.