What is the likelihood of PlanB Robert Kiyosaki and Standard Chartereds Six Digit Bitcoin targets being achieved
Bitcoin has been making headlines lately, especially after hitting record highs of $73k. As Bitcoin aims to stabilize above $70k, experts and analysts are making bold predictions for the coin’s future before the end of 2024.
One notable prediction comes from crypto expert Plan B, who forecasts that Bitcoin could potentially reach a target price of at least $100,000 by June 2024. Plan B’s analysis is based on a model he developed, indicating a rapid increase in Bitcoin’s price.
In addition, financial guru Robert Kiyosaki anticipates Bitcoin’s price skyrocketing to $350,000 by mid-August. This forecast is based on his analysis of market trends and factors influencing Bitcoin’s price movements.
Standard Chartered also predicts a $150,000 price for Bitcoin by the end of 2024. This forecast is supported by positive payroll data and other market indicators pointing to a potential increase in Bitcoin’s price to $80,000 by June’s end.
Despite these predictions, Bitcoin has yet to reach $100k this year, with its highest point being $73k during the halving pump and ETF influx, which is quite unusual. Typically, breaking the all-time high occurs a few months or even six months after the halving. Hence, Bitcoin’s current price level is impressive.
As Bitcoin and the wider crypto market progress, there may be downward breakthroughs. While moving higher, resistance may cause temporary pauses or slight upward pushes for a day. Observing the total market cap on a daily basis reveals a significant bullish pattern—a large bull flag. If this pattern unfolds as expected, a measured upward move could be seen.
Reflecting on June 2023, the crypto market rebounded due to BTC spot ETF filings, showcasing progress and regulatory changes with increased institutional involvement. While achieving $100k for Bitcoin by June 2024 may seem improbable, it remains a possibility before the year concludes, given its current trajectory.