What is the price prediction for Bitcoin in June 2024? A prominent cryptocurrency analyst has shared a forecast regarding the future price movements of the leading cryptocurrency, predicting a substantial increase this month. Could Bitcoin reach $100,000?
In a recent analysis shared on his YouTube channel, the pseudonymous cryptocurrency trading expert PlanB emphasized in his prediction that BTC could potentially reach the price target of “at least the $100,000 level in the near future.”
According to the analyst’s 200-week moving average (MA) chart, the primary crypto asset is aiming for a $100,000 price target in the near future. This latest Bitcoin forecast aligns with the previously shared stock-to-flow (S2F) model, which forecasts BTC’s trajectory towards this milestone.
Expert believes post-halving Bitcoin boom is imminent
In a recent technical analysis, cryptocurrency expert PlanB noted the entry of Bitcoin (BTC) into a phase with the potential for price surges, historically coinciding with uptrends in the leading crypto asset. In a YouTube video, the analyst provided an update on his stock-to-flow (S2F) model.
Historically, PlanB’s model has signaled the beginning of significant bull runs following Bitcoin halving events. “It is the first month after the halving and the start of a new cycle. Therefore, in my view, Bitcoin will experience a surge post-halving, as seen in the previous halving cycles in 2020, 2017, and 2013. I anticipate a rise once again, which is central to the stock-to-flow model, but only time will confirm.”
Analyst Plan B also noted in his technical analysis that the realized price level over a five-month period has historically served as a robust support zone during bull markets.
What is Bitcoin trending at today, June 6, 2024?
Bitcoin’s price is currently attempting to maintain above the $70 level, reaching a peak of $71,488 today. At the time of writing, the Bitcoin price was quoted at US$71,176.20, marking a 1.1% increase in the last 24 hours. Over the past seven days, the BTC price has risen by 4.6%.
Disclaimer: The opinions expressed by the author or individuals mentioned in this article are for informational purposes only and do not constitute financial or investment advice. Investing or trading in cryptocurrencies carries a risk of financial loss.
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