"Hopefully his expectations are right, BTC investors are tired of waiting for this."
A widely followed cryptocurrency analyst called PlanB has made several predictions this time expecting Bitcoin (BTC) to break through $40,000 to $50,000 in the coming months.
According to PlanB to his 58,200 YouTube followers, the price of BTC also has the potential to soar as the digital asset approaches the halving event.
It is well known that the halving is the event when the BTC block reward is cut in half that happens every four years, but the question now is what level will BTC be at during the halving in April 2024.
However, PlanB believes that BTC will rise by 50% from the current level to reach the price range he mentioned which is $40,000 or $50,000.
This is because PlanB last month revealed that there are indicators that can show that the top digital assets by market capitalization are apt to trigger price increases in the near future.
He also said that BTC will move above the cost price, where the realized cost price of BTC is a metric to get the average value of the supply of the digital asset which is calculated at the price when the last coins were moved.
As of this writing, the price of BTC is still down by 0.93% at $29,994 in the last 24 hours with a capital of $582 billion further recording a 1.86% decline over the last week.
On a different side, Galaxy Digital CEO Mike Novogratz has recently announced to everyone that BTC and Ethereum (ETH) are the best long-term investments to buy.
