Bitcoin Price Prediction as BTC Surges Above $38,000 for First Time Since May 2022 – Is $40,000 Next?

cryptonews.com:

As Bitcoin price breaks the $38,000 barrier for the first time since May 2022, the crypto community is abuzz with anticipation: could $40,000 be the next milestone?

Currently trading at $37,790, marking a 1.25% increase on Saturday, Bitcoin is showing signs of a robust recovery. This resurgence aligns with PlanB’s projection, emphasizing an average BTC price of $100,000 from 2024, suggesting long-term optimism in the market.

Moreover, the impending introduction of a Bitcoin ETF is anticipated to unlock a staggering $70 billion in new demand, fueling further growth.

Adding to this bullish sentiment, CEOs of Australia’s leading crypto exchanges have expressed confidence in an approaching bull market, potentially setting the stage for Bitcoin’s sustained upward momentum.

Renowned crypto analyst PlanB, the creator of the stock-to-flow (S2F) family of Bitcoin price models, suggests that Bitcoin is currently in its “pre-bull market” phase, indicating that current price levels below $40,000 won’t last long. In a recent post on social media platform X (formerly Twitter), PlanB urged Bitcoin buyers to seize the opportunity to accumulate below $40,000.

Using realized price data, he highlighted that Bitcoin is likely to experience significant growth beyond its recent 18-month highs. The realized price, calculated by dividing the realized cap by the current supply, currently stands at just under $21,000. PlanB’s optimistic outlook aligns with the growing trend of six-figure predictions for Bitcoin, with $130,000 being a focal point for the end of 2025.

Waiting for lower? The time to enjoy cheap Bitcoin is now, @100trillionUSD says. https://t.co/bMng0BWZiO

— Cointelegraph (@Cointelegraph) November 24, 2023

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