Renowned analyst and author of the Stock-2-Flow (S2F) model,?PlanB has made bullish predictions on the world's largest cryptocurrency, Bitcoin.

Renowned analyst and author of the Stock-2-Flow (S2F) model, PlanB has made bullish predictions on the world’s largest cryptocurrency, Bitcoin.

PlanB’s bold statement comes amid persistent price fluctuations for Bitcoin in the past couple of weeks. However, in an X post, PlanB maintains that Bitcoin has reached a point where it will significantly increase in price. According to him, the digital asset can soar between seven and ten times its current worth now.

If this price projection comes to pass, Bitcoin will be between $414,000 and $593,000. Notably, PlanB’s price prediction relies on historical patterns rather than random figures plucked from the air.

An analysis of Bitcoin’s 200-week Moving Average shows a consistent price leap pattern of a 4x jump followed by a 7x or 10x leap. Interestingly, the chart reveals that the price has climbed approximately four times from the bottom between 2022 and now.

This pattern of price leaps is further highlighted by PlanB in a tweet, where he shares a chart of Bitcoin’s 200-week Moving Average. The chart shows four distinct price surges, each followed by a holding period before the next jump.

The recent price increase from 2022 is highlighted as the fourth price surge on the chart. As observed in the previous three instances, the 200-week Moving Average indicates that a 7x or 10x price increase is expected next.

Based on this historical pattern and the current Bitcoin price, the next leap could push the coin to $414,000, or as high as $593,000 by August 2025.

This bold forecast by PlanB has sparked diverse reactions from industry stakeholders. Some consider the figures high, especially the 10x prediction, favoring a more conservative estimate between $120,000 and $160,000. Others anticipate a peak of $700,000 for BTC.

However, a common thread running through these reactions is the optimism toward the world’s leading crypto asset. Notably, PlanB's prediction aligns with previous positive sentiments expressed by other renowned analysts, who anticipate a massive run for Bitcoin once it overcomes the current resistance at $70,000.

At the time of writing, data from Finbold indicates that Bitcoin is down by 1.17%, trading at $59,585.60. Despite the slight decrease, the demand channel for the coin remains strong, especially with the sustained interest in spot Bitcoin ETF products. Many believe that Bitcoin's growth is now only a matter of time.

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