PlanB analyst predicts bitcoin’s growth to $ 520,000

Cryptocurrency analyst PlanB notes that the flagship crypto asset is capable of reaching $ 524,000 per coin, and such a powerful rally will take place over the next four years.

The expert shared a graph with his 1.8 million subscribers on the X platform that shows the price at which most of the BTC is distributed at each halving, when the reward to miners is halved.

Based on the historical trend that the BTC price is about 4 times the lower limit of the distribution range, PlanB says that the cryptocurrency could soar above half a million dollars over the next few years.

The crypto expert notes that the next growth could be «even more explosive» than in the past:

«During the 2012 halving, most bitcoins were worth <$ 16.

During the 2016 halving, most BTC was in the $ 256-$ 1024 range.

At the time of the halving in 2020, most BTC was in the $ 4,000−16,000 range.

When it halves in 2024, most BTC will be in the $ 16,000-$ 65,000 range.

I wouldn’t be surprised if in the next four years, most BTC transfers will be in the $ 65,000-$ 524,000 range," PlanB said.

The analyst also claims that BTC will only trade below $ 40,000 for a while. The crypto trader shares another chart that shows bitcoin trading above its two-year and five-month realized price levels.

Context of the chart: The realized price metric tracks the sum of all bitcoins at the price of the last transaction in the chain divided by the number of bitcoins in circulation.

«Enjoy bitcoin worth less than $ 40,000… while it lasts,» PlanB summarizes.

According to the analytical tracker CoinMarketCap, at the time of writing, the flagship virtual coin is trading at $ 37,050, which is 0.6% lower than yesterday. The market capitalization of bitcoin was fixed at $ 724.5 billion, and traders made daily trading deals worth $ 18.6 billion. The asset’s dominance in the market slipped to 51.7%, and the fear and greed index fell to 69.