The PlanB analyst is multiplying these days projections concerning the future value of Bitcoin. Will the BTC experience an exponential and imminent explosion taking it to new heights? On the contrary, would the upcoming halving already be absorbed by the market? Elements of response by an analyst who considers that there are multiple reasons to be optimistic !
PlanB, a confident maximalist
We regularly talk about the analyst Plan B lately. Whether it is because the interested party is considered sufficiently serious and credible in the context of his fundamental market analyzes, or because the apocalyptic predictions of Nouriel “Dr Doom” Roubini, it’s going well 2 minutes, the projections of the one whose nickname Twitter East @ 100trillionsUSD are likely to put a little balm in the hearts of investors in these turbulent market times.
PlanB recently mentioned that it would not be surprised to see BTC return to USD 10,000 by the end of December. From now on, the person concerned believes that the halving BTC’s upcoming event will be the trigger for the next bull run. And to add that it is not him who says it, it is the charts!
“I wonder why in previous halving (November 2012 and July 2016) it took more than a year for the market to start to soar … well, it isn’t … look for yourself : in the graph, the halving takes place when the blue turns red: the market rises immediately after a halving ”
Note that this perception is also simple to visualize in other forms:
Halving will be immediately followed by an increase in the value of Bitcoin
Unlike some observers, PlanB therefore believes that halving will immediately ring the start of the next Bitcoin charge. This charge is supposed to propel the digital currency to a new high estimated at $ 100,000 (by 2023).
Note that if this forecast were to be realized, it would imply that the value of BTC would be multiplied by 14. Bitcoin’s capitalization would then reach 1.7 trillion dollars (still far from the 100 trillion that PlanB sports in its nickname!).
Obviously, there are many those who consider the prediction unrealistic, especially as – unlike the previous two halvings – the economic stakes have become so high that the market is supposed to have anticipated future changes in the Bitcoin ecosystem.
So, the co-founder of institutional digital asset manager Morgan Creek Digital, Jason A. Williams, explained to Forbes that he thinks halving is already built into BTC’s current price:
“The whole community that experiences it all day by day is aware that the event is here. We even know the date (a few days ready). The major mining players who hold BTC will have to sell to cover their operating expenses or use their cash to offset the halving of the rewards. “
And for him, only the arrival on the market of a new audience ready to buy Bitcoin is likely to change the market:
“New buyers must come in to advance this market. So apart from creating a new deadline, halving is being digested by those who are most directly affected operationally. Those who do not anticipate it will be competitively excluded from the mining business. ”
And he drives the point home:
“Unpopular opinion: the Bitcoin halving in May 2020 will not change the price. It will be a non-event. ”
So, rather optimistic at PlanB or coldly pragmatic at Jason?
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
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