Renowned cryptocurrency analyst PlanC recently shared his insights on the future trajectory of Bitcoin in a recent statement. According to PlanC, Bitcoin’s path is unfolding as anticipated when viewed from the correct perspective.
PlanC made several notable observations. Firstly, he predicts that by the end of 2024, the Power Law Support, which represents the historical base, will surpass MicroStrategy’s current Bitcoin cost base. Furthermore, by the end of 2026, it is expected to exceed the current Bitcoin price.
Drawing upon the 4-year cycle pattern, PlanC estimates that the next bear market bottom could occur between September 2026 and January 2027, with a price range of $67,000 to $74,000, based on the Power Law Support.
The analyst also emphasized the significance of recent price action at close range, as he believes it could strengthen the bottom support for the next bear market. This aligns with Bitcoin’s growth patterns on higher time frames, according to PlanC.
PlanC underscored the resilience of Bitcoin’s Power Law Support, which has remained robust over the past 15 years, enduring various challenges such as the 2020 crash, the Luna crash, and the FTX scandal.
Concluding the analysis, PlanC made a bold prediction. Assuming the continuation of Power Law Support, he anticipates that after 2037, Bitcoin’s price will exceed $1,000,000.
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