In early May, Bitcoin faced a significant drop in price, falling below $60,000 and prompting concerns among traders about further declines. This event occurred amidst ongoing uncertainty about the post-halving rally that could impact the crypto market.

In a YouTube video posted on May 1, analyst Plan B offered insights into Bitcoin's future price prospects for the remainder of the month. The expert explored the Bitcoin stock-to-flow model, noting that while Bitcoin had recently closed slightly above $60,000, it still held a year-to-date increase of 36%.

Plan B highlighted the historical accuracy of the stock-to-flow model in predicting Bitcoin's price trends. The expert emphasized that May 2024 signified the final month before the upcoming halving event, echoing the consistent alignment of each halving with the stock-to-flow model price.

Regarding specific price targets, the expert mentioned the current average Bitcoin price settling around $34,000, mirroring the $55,000 anticipated by the original 2019 model. Despite some price fluctuations, Plan B adjusted the model's parameters to maintain an average price target of about $500,000 between 2024 and 2028, signaling a gradual growth trajectory for Bitcoin's value.

Looking ahead to the latter part of 2024, the expert expressed confidence in Bitcoin reaching $100,000, driven by mining revenue recovery post-halving. Plan B projected that Bitcoin could peak in 2025, potentially exceeding $200,000 in price.

Additionally, the analyst analyzed technical indicators like the Relative Strength Index (RSI) and the 200-week moving average. The RSI normalization indicated Bitcoin's stabilization, while the 200-week moving average set a conservative floor price for Bitcoin during bull markets, typically trailing Bitcoin's actual price performance.

In the midst of Bitcoin's recent losses post-halving and waning interest in ETF flows, investors also kept an eye on the Federal Reserve's monetary policies and inflation rates. Bitcoin's current trading price of $57,779 suggests a weekly decline of close to 10%, emphasizing the importance of sustaining a price level above $55,000 for a bullish sentiment.

(Disclaimer: The content of this site does not serve as investment advice. Investment carries inherent risks where capital is at stake.)

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Source: https://thebittimes.com/crypto-expert-plan-b-sets-bitcoin-price-for-2025-tbt87217.html