The most optimistic about Bitcoin continue to bet big on how much the currency will achieve in the coming months, PlanB, one of the biggest and most famous analysts of Bitcoin price, said he believes that the digital currency could reach US$ 500 thousand in 2022, which would be a dream for most investors.
During your participation in the podcast Blockwave Intelligence, which included Will Clemente III, another macro market analyst, PlanB spoke about his forecasts for the asset’s price, further increasing his recent positivity in relation to the digital asset.
PlanB noted that Bitcoin is currently just in the middle of another bullish cycle and could significantly increase from current values. He pointed out that often the sharpest and most significant growth occurs towards the end of the cycle.
This is corroborated by the last few years, with 2017 seeing Bitcoin hit a top of $18,000, the end of 2018 which was a period of considerable recovery and also with highs in the final months of 2019 and especially 2020.
As a result, Bitcoin does tend to have considerable growth in the last months of the year and if history repeats itself (which is never a guarantee) it may be that PlanB has a little basis for its great positivity.
In his participation, he stated that the cryptocurrency market will continue to grow for another 3 to 6 months. For him, the cryptocurrency can reach US$ 98,000 still in November is on December the US$ 135 thousand mark, which is already an impressive number for anyone entering the cryptomarket, even for those investing at current value.
However, these are conservative values according to the positivity of PlanB.
“I wouldn’t be particularly surprised if Bitcoin hits $500,000 early next year,” the analyst said.
During this week bitcoin hit a new record close to $70,000 and even after the next correction, these new stress tests are a positive sign for the near future of cryptocurrency. However, the possibility of reaching US$ 500 thousand in 2022 seems to be a difficult reality.
The important thing is to always research a lot before investing in any asset, even one with as much positivity in your ecosystem as Bitcoin.