tells<\/a> his 82,400 YouTube subscribers that the approval of spot market Bitcoin exchange-traded funds (ETFs) could cause the crypto king to surge to new all-time highs before its halving event in April 2024.<\/p>\nThe halving is a historically bullish event as it slashes BTC miners\u2019 rewards in half.<\/p>\n
Says PlanB,<\/p>\n
\u201cThe halving is in April 2024, so that\u2019s four months from now. A possible all-time high would be $69,000 \u2013 that would be a 50%+ increase in the next four months.<\/em><\/p>\n I think it\u2019s very well possible. In fact, if the ETF gets approved before the halving \u2013 and I think everybody\u2019s looking at January for that \u2013 if the ETF gets approved by January, then I think we\u2019ll have this all-time high in the pocket, and $69,000 would be a low estimate \u2013 I think we\u2019ll go straight to $100,000.\u201d <\/em><\/p>\nPlanB goes on to argue that even in a short-term bearish scenario, Bitcoin won\u2019t fall below the $25,000 level, barring a major black swan event.<\/p>\n
\u201cIt could [dip] if we see a black swan \u2013 something that we we do not expect like the last halving in 2020, we had the Covid crisis hit two months before and that was a big black swan. <\/em><\/p>\nWe can have that, but I don\u2019t see one [on the] horizon at the moment. I don\u2019t think it will be there and I think Bitcoin is perfectly on track for the next bull market without a prior crash to $25,000 levels. In fact, I have said it would surprise me if we would ever go below $35,000 again.\u201d<\/em><\/p>\nBitcoin is trading for $40,933 at time of writing.<\/p>\n