Cryptocurrency analyst PlanC has shared his predictions for potential bottoms following Bitcoin’s pullback. He believes current market conditions suggest a controlled correction rather than a sharp crash.
PlanC stated that the highest probability for Bitcoin’s price is a bottom forming between $70,000 and $80,000, giving this scenario an 85% probability. The analyst, however, considered the likelihood of a deeper correction quite low, assigning a 10% probability to the $60,000-$70,000 range, a 4.9% probability to the $50,000-$60,000 range, and only a 0.1% probability to a sub-$50,000 scenario. Therefore, he stated that $70,000 could still be considered the “worst-case scenario.”
PlanC, who maintains that he doesn’t focus on short-term price movements, said he views Bitcoin investments as a long-term growth story. The analyst stated that he plans to sell the majority of his existing positions only when he achieves a 100x return on his cost basis, which he predicts could happen within five to 10 years. He stated that the $126,000 level doesn’t offer enough value for a sale and that the risk-reward balance isn’t optimal.
PlanC also argues that the market has yet to reach its cycle peak. According to their model, Bitcoin’s true peak price will likely be seen in 2026 or 2027, and they consider the current pullback a healthy intra-cycle correction. However, they caution that all predictions are based on probability and are not absolute.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/how-low-could-bitcoin-go-analyst-lists-the-possibilities/
