How realistic are PlanB Robert Kiyosaki and Standard Chartereds Six Digit Bitcoin targets
Bitcoin has been making headlines lately, especially after reaching record highs of $73k. While the cryptocurrency is striving to maintain stability above $70k, analysts and experts are making some bold predictions for its future price before the end of 2024.
One such expert, Plan B, has come forward with a striking forecast for Bitcoin’s price in June 2024. According to his analysis, Bitcoin could potentially hit a target price of at least $100,000 in the near future. Plan B’s prediction is based on a model he developed that indicates a rapid surge in Bitcoin’s price.
In addition, financial guru Robert Kiyosaki has predicted that Bitcoin’s price will soar 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 has also weighed in with their own prediction, foreseeing a $150,000 price for Bitcoin by the end of 2024. This forecast is based on positive payroll data and other market indicators pointing towards a potential increase in Bitcoin’s price to $80,000 by the end of June.
Despite these optimistic forecasts, Bitcoin has yet to reach the $100k mark, even after almost five months into the year. The highest it has achieved was $73k during the halving pump, fueled by ETF money, which is quite unusual. Typically, breaking the all-time high takes a few months, or even six months, after the halving, making Bitcoin’s current price quite impressive.
Looking ahead, there may be some resistance as Bitcoin and the broader crypto market continue to climb. However, a bullish pattern is emerging on the daily timeframe, indicating a potential upward move. If this pattern unfolds as expected, we could see a significant increase in price.
Reflecting on June 2023, the crypto market saw a resurgence thanks to BTC spot ETF filings, signaling progress and regulatory changes. While reaching $100k for Bitcoin by June 2024 may seem improbable, it remains a possibility by the year’s end given its current trajectory.