Analyst commented: BTC $40,000-$50,000 at April 2024 halving?

PlanB, the developer of the Stock to Flow model, which is specific to Bitcoin price, shared its predictions about Bitcoin price in its latest post.

Cryptocurrency analyst PlanB, who is popular on Twitter, believes that Bitcoin will enter a significant uptrend in the coming months. While PlanB thinks that Bitcoin investors are in the mood for halving, he predicts that the next stop for Bitcoin may be the price range of $ 40,000 – $ 50,000.

PlanB, which has made a name for itself in the past years with its Stock to Flow model, emphasized the importance of halving and stated that this development, which will shorten the Bitcoin supply, will be critical for the BTC price to reach new heights.

Finally, PlanB shared his views on YouTube and explained why he believes Bitcoin can reach $ 50,000 in the coming months. Based on the 200-week moving average in its Bitcoin price prediction, PlanB noted that the average is now up by about $500 per month. Depending on this trend, he stated that in April 2024, which coincides with the Bitcoin halving period, the 200-week moving average will be equivalent to $ 32,000. After that, the analyst, who discussed the historical data, pointed out that the BTC price was 50% above the average 200-week moving average during the previous halving periods. According to this approach, PlanB estimates that Bitcoin can be traded in the $40,000 – $50,000 band during the halving period.

PlanB, which is always expecting a rise for Bitcoin, highlighted the two-year cost price of BTC in its share last month and claimed that a rally could begin when the BTC price exceeds this value.