Three Critical Six-Digit Bitcoin Hypotheses Discussed: Are They Reasonable?

Bitcoin remains on the agenda, reaching an all-time high of $73,000 recently. Analysts and experts are making bold predictions for Bitcoin, which is trying to stabilize above $ 70,000 by the end of the year. Here are three critical Bitcoin predictions and their probability of coming true…

Predictions by PlanB, Standard Chartered and Robert Kiyosaki attract attention

Cryptocurrency expert Plan B has made a striking Bitcoin price bet for June 2024. According to analysis, Bitcoin may reach a target price of at least $100,000 in the near future. Plan B’s assumption is based on a self-developed model that predicts a rapid rise in Bitcoin’s price. In addition, Robert Kiyosaki assumes that the Bitcoin price will skyrocket to $350,000 by mid-August. This claim is based on Kiyosaki’s analysis of market trends and factors affecting Bitcoin’s price movements.

Another assumption came from Standard Chartered. Standard Chartered predicts a BTC price of $150,000 by the end of 2024. This claim points to the potential for Bitcoin price to rise to $80,000 by the end of June, based on positive payroll data and other market indicators.

Are these three Bitcoin claims reasonable?

Now, if we look at the current state of Bitcoin, almost half of the year has passed and now we have not seen Bitcoin reach $100,000. With the halving period pump and ETF money inflows, it reached a maximum of $ 73,000, which is quite unusual. Normally, we do not exceed an all-time high until a few months or even six months after the halving. Therefore, it is quite impressive that the Bitcoin price is in its current position. With Bitcoin and the broader cryptocurrency market, we expect a downward plunge, according to experts. As the top rises, some resistance may occur on the road, causing a temporary pause or even a slight pressure on the top for a period of a day.

When we look at the total market price on the daily timeframe, a significant bullish pattern is forming – a major bull flag. If this pattern plays out as expected, we could see a measured upper move. However, when we look at last June (2023), the cryptocurrency market returned thanks to BTC spot ETF applications. It was a month of progress and regulatory changes, with major institutions getting more involved. While reaching $100,000 for Bitcoin in June 2024 seems unlikely, given its current trajectory, it could happen before the end of the year.

As a result, we discussed different expert opinions and market analyzes regarding the future of Bitcoin. While experts put forward high goals, it is also predicted that the cryptocurrency market may experience a downward break. Time will tell whether Bitcoin will exceed the spiritual level of $ 100,000.