Cryptocurrency analyst PlanC recently shared his insights on the future trajectory of Bitcoin. According to PlanC, Bitcoin’s path is progressing as expected, with some interesting observations about its Power Law Support. By the end of 2024, the Power Law Support is projected to exceed MicroStrategy’s current cost base per Bitcoin, and by the end of 2026, it will surpass the current Bitcoin price. The analyst predicts that the next bear market bottom could be between $67,000 and $74,000 between September 2026 and January 2027, based on the Power Law Support.
PlanC emphasized the significance of the recent close-range price action in strengthening the bottom support for the next bear market, in line with Bitcoin’s growth patterns on the higher time frame. The analyst highlighted 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. PlanC made a bold prediction that assuming Power Law Support continues, the lowest prices expected would be over $1,000,000 after 2037.
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