The Bitcoin market has seen its fair share of bull and bear cycles over the years, each with its own unique trends. Crypto analysts often look to the past performance of the coin to try and predict future outcomes. Recently, market expert PlanB took to X (formerly Twitter) to share insights on the current bull run of Bitcoin. By examining previous cycles, PlanB suggested that the Bitcoin bull run is far from over and could have a bullish future ahead.
Looking back at the 2017 bull run, Bitcoin experienced an initial 4x increase in price before encountering a period of slowdown. Many believed this was the end of the bull market, only to be proven wrong when Bitcoin rallied to a 10x increase, reaching new all-time highs. Fast forward to the 2020-2021 bull cycle, a similar pattern emerged. Bitcoin saw a 4x increase, followed by a slowdown, and eventually surged to a 7x increase by the end of the cycle.
PlanB’s analysis of the current Bitcoin cycle suggests that history may repeat itself. With Bitcoin already up 4x since 2022, the first phase of the trend seems to be complete. If this trend continues, Bitcoin could potentially see a price increase between 700% and 1,000% from its current levels. Even if the return is less than the previous cycles, a 300% to 400% increase is still on the table. This would ultimately push Bitcoin past the $100,000 price target.
Based on PlanB’s calculations, if Bitcoin were to follow the trend and see a 700% increase, the price could potentially reach $400,000 by the end of the bull market. If the increase is closer to 1,000%, Bitcoin could surpass $550,000. Currently trading at $59,000, Bitcoin may experience a period of slowdown before making its next move. If the projections hold true, Bitcoin could reach six figures in less than a year.
While the cryptocurrency market is known for its volatility, historical trends can provide valuable insights into potential future outcomes. By analyzing past bull cycles and current market trends, experts like PlanB are able to make informed predictions about the future of Bitcoin. Only time will tell if these projections come to fruition, but for now, all eyes are on Bitcoin as it continues its journey through the ever-changing world of cryptocurrency.