Renowned cryptocurrency analyst PlanC recently shared his insights on the future trajectory of Bitcoin in a recent statement. According to PlanC, Bitcoin’s journey is progressing as expected when viewed from the right perspective.
PlanC made several intriguing observations. He predicts that by the end of 2024, the Power Law Support (historical base) will surpass MicroStrategy’s current cost base per Bitcoin. Furthermore, by the end of 2026, it is expected to exceed the current Bitcoin price. PlanC also suggests that if the 4-year cycle continues, the next bear market bottom could fall between $67,000 and $74,000, occurring between September 2026 and January 2027, based on Power Law Support.
The analyst emphasizes the significance of recent close-range price action, which he believes will play a crucial role in strengthening the bottom support for the next bear market. This aligns with Bitcoin’s growth patterns on the higher time frame, as observed by PlanC.
PlanC highlights the resilience of Bitcoin Power Law Support over the past 15 years, weathering various challenges such as the 2020 crash, the Luna crash, and the FTX scandal. Based on this historical data, PlanC makes a bold prediction. Assuming Power Law Support continues, the analyst estimates that after 2037, Bitcoin’s price could exceed $1,000,000.
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