A Well-Known Crypto Expert Says Bitcoin Will Be Worth $40,000 to $50,000 Before It Halts

Fans of Bitcoin ($BTC) are becoming more anxious as the day approaches for the fourth halving of the block reward, which is projected to occur around April 24, 2024. Now, a well-known anonymous expert predicts Bitcoin’s price will soar to $40,000 or $50,000.

If Bitcoin’s price and transaction fees don’t rise by the time the halving occurs in nine months, economists at JPMorgan led by Nikolaos Panigirtzoglou say it might provide a financial issue for miners.

PlanB, recognised for creating the stock-to-flow (S2F) model, recently presented a video predicting a Bitcoin price in the $40k to $50k area before the halving.

It should be noted that the analyst came under fire a year ago when his S2F model started to show signs of inaccuracy. However, in his most recent video, he attempted to foretell the future direction of the flagship cryptocurrency’s price using the 200-week moving average.

The 200-week moving average, a standard indication in technical analysis for smoothing price data, has been rising at a rate of around $500 per month, as he put it; this amounts to an increase of $4,500 over the next nine months, from about $28,000 to $32,000.

In a time when the BRICS countries are planning to introduce a gold-backed currency, Robert Kiyosaki, author of the renowned personal finance book “Rich Dad Poor Dad,” has projected that Bitcoin might climb to an amazing $120,000 in the near future, as reported by CryptoGlobe.

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