TL;DR Breakdown
- BTC to tank $450,000 by end of 2021
- BTC price analysis in the past 24 hours
Bitcoin price analyst, PlanB has predicted that the number one cryptocurrency would trade at $450,000 by the end of the year.
In a statement he released on Sunday, where he predicted price of Bitcoin by the end of the year, PlanB paints a worst-case scenario of $135,000 for the foremost cryptocurrency at worst.
Against all odds, Bitcoin to hit previous all-time high October
The analyst is popularly known for his stock-to-flow Bitcoin Price forecasting model which has repeatedly painted a bullish scene for the number one cryptocurrency all week, especially after its slight recovery. This is amidst all the multiple lows and retest levels for the number one crypto.
He noted that the “worst-case scenario” for Bitcoin would still see it trade at $47,000 in August. A slight reversal in September places the minimum target at $43,000 for that month, only to be followed by $63,000 or higher in October — near current all-time highs.
Things continue to be bullish for the foremost crypto and all the way to $135,000 by December after it must have made it to $98,000 by November, the analyst predicts.
In summary, PlanB states that BTC would rematch its ATH price in some months time and paint new ATH prices afterward.
BTC price remains stable below $35,000
Over the past days, the number one crypto coin has not been able to break above $35,000 as altcoins continue to plunge. ETH dropped, trading slightly above $2,200, while ripples (XRP) have dipped by more than 5 percent in 24 hours.
Earlier this week, bulls dominated the BTC market, sending its prices to a 26-day high at $41,338.21. Sellers flooded the Bitcoin market as the bulls were preparing to hit the $50K. The bears forced the all-time high digital asset price to depreciate and settle slightly below $35K. The number one coin has not been able to recover from that loss since then.
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Source: https://www.cryptopolitan.com/135000-worst-price-bitcoin-would-end-2021/
