Over the next 10 to 18 months, Bitcoin could reach new all-time highs, according to crypto analyst and Power Law advocate PlanC. Under specific conditions, he sees a price target of $150,000 to $300,000 as realistic.
$80,000 as a Key Milestone for the $300,000 Target
PlanC forecasts that if Bitcoin sustainably surpasses the $80,000 mark, it could soar to as much as $300,000. With a clear focus on this milestone, he argues that breaching $80,000 could open the door for further gains. Following this breakthrough, he expects a significantly lower probability of Bitcoin dropping below the $60,000 level.
“The $80,000 level could act as a springboard for the next major upswing,” says PlanC.
Eight-Month Consolidation Strengthens Support Level
A critical factor underpinning PlanC’s optimism is the eight-month consolidation phase between $60,000 and $70,000. This period, he argues, has provided the necessary stability to protect the price against potential downward movements. “Spending more time in the $60,000 to $70,000 range than in the $50,000 region has built a solid foundation for the upcoming move,” he explains.
Corrections Likely to Remain Moderate – Maximum of 60 to 70%
While Bitcoin has experienced drops of 80% or more in previous cycles, PlanC expects that future corrections will be limited to a maximum of 60 to 70%. This more moderate forecast is based on the solid support level built up over the past months. “It’s unlikely that Bitcoin would fall to $40,000 after such a strong support base has been established,” the analyst notes.
Quantile Model Indicates Probability of Price Targets
PlanC uses a quantile-based model to estimate the likelihood of various price targets:
90% Quantile: $144,145
95% Quantile: $176,061
99% Quantile: $202,340
99.9% Quantile: $236,956
By providing these probability estimates, the model visualizes important price targets and their chances of being reached. PlanC is currently working on an enhanced version of this model, incorporating shorter time intervals and additional data points to make predictions even more precise.
Conclusion: Is Now the Time to Invest?
For Bitcoin investors, the timing may be ideal. If PlanC’s forecasts come to fruition, surpassing the $80,000 threshold could be a critical catalyst for further gains. With the potential for a peak as high as $300,000 and a robust support base behind it, hopes for new records in the coming months remain strong.
