Bitcoin Buyers Urged to Act as Price Nears $40,000 Resistance

Crypto Expert PlanB Encourages Buying Opportunity

Renowned crypto expert PlanB has advised Bitcoin buyers to take advantage of the current price level below $40,000. Known for his optimistic long-term outlook on Bitcoin's price, PlanB believes that the cryptocurrency is destined to go much higher than its recent 18-month highs. He emphasized that time is ticking for investors to increase their exposure to BTC before it surpasses the $40,000 mark.

Realized Price Data Supports Bullish Case

PlanB backed his advice with realized price data, which is Bitcoin's realized cap divided by the current supply. The realized price is currently just below $21,000. Historical patterns show that Bitcoin bear market bottoms are characterized by the spot price dipping below the realized price, while bull markets begin when the spot price crosses the two-year and five-month realized price levels. PlanB's chart indicates that BTC/USD is now above all three realized price iterations.

Six-Figure Predictions Gain Traction

Despite criticism of PlanB's Stock-to-Flow model, more and more analysts are making six-figure predictions for Bitcoin's next cycle. Many are focusing on an end-of-2025 target around $130,000. Additionally, analysis suggests that the next halving, scheduled for April 2024, could lead to a return to around $46,000.

Bitcoin's Current Phase and Future Outlook

PlanB recently described Bitcoin as being in a "pre-bull market" phase, with the full-blown bull market still to come. He expects an average BTC price of at least $100,000 between 2024 and 2028, during Bitcoin's next halving cycle. However, he did not comment on whether the market should expect lower levels from the current price.