A pseudonymous crypto analyst on Twitter predicts that a massive Bitcoin (CRYPTO: BTC) rally is underway leading up to the 2024 halving, which will reduce the available apex crypto supply. 

What Happened: CryptoQuant analyst ‘PlanB’ has stated that the price of Bitcoin has surpassed key support from short-term holders, signaling further price growth into 2024 when the halving event occurs. 

The analyst predicts that the 2024 halving event will cause the value of Bitcoin to rise above $32,000, setting the stage for a bullish market in 2025 with a potential price of over $100,000.

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According to PlanB, the bottom level for Bitcoin was in November when it reached the $15,500-mark.

My 2 sats on #bitcoin price:
– November 2022 low of $15,5K was the bottom
– BTC has crossed Short Term Holder (STH) and will rise into 2024-halving and subsequent 2025 bull market. Several on-chain signals confirm STH signal.
– 2024 halving will be >$32K
– 2025 bull market >$100K pic.twitter.com/0QtbeOXwsG

— PlanB (@100trillionUSD) January 12, 2023

Price Action: At the time of writing, Bitcoin was trading at $18,797, up 3.83% in the last 24 hours, according to Benzinga Pro data.

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