Could Bitcoin Reach $300,000 by 2026? Top Analyst Thinks It’s Possible

Is Bitcoin really set to hit $300,000 by 2026? Cryptocurrency analyst PlanB thinks so. He recently shared this bullish outlook with his YouTube audience, revealing market conditions, technical indicators, and historical patterns that back up his prediction. Known for his stock-to-flow model, PlanB believes many market participants still underestimate Bitcoin’s potential in this cycle.

Mixed Sentiment Surrounds Bitcoin’s $300,000 Target

In his latest market update, PlanB noted that sentiment around Bitcoin remains mixed, with around 60% of market participants expressing doubts that the asset will climb to the $300,000 mark within the next one and a half years. 

Despite this widespread skepticism, he remains firm in his view that the digital asset is on track for a significant upward move. He emphasized that his model suggests the average value could reach as high as $500,000, and even the lower end of his projected range places Bitcoin near $250,000—with $300,000 considered a conservative midpoint.

July Growth Tempered by Cooling Investor Enthusiasm

Bitcoin recorded solid growth through July, peaking at $123,000 mid-month before ending the period at $115,000. This was an improvement over June’s close of $107,000, representing an approximate 7% gain and an $8,000 increase month-on-month. 

While the price movement was upward, Glassnode observed that investor enthusiasm appeared to settle toward the end of the month.

• Futures Open Interest slipped from $45.6B to $44.9B, and Options Open Interest also fell 8.4% to $39.8B.
• Volatility narrowed from 23.84% to 16.26%, while ETF inflows dropped 24.9% to $269.4M.
• Meanwhile, trading volume rose 9.9% to $19.8B.

Despite this cooling in sentiment, PlanB described current conditions as part of a broader upward cycle. He stated that all on-chain indicators continue to support a bullish outlook. Still, he added that this cycle differs from past rallies in both pace and structure.

A Slower, Longer Bitcoin Cycle Compared to Past Rallies

Compared with earlier market expansions, this cycle is unfolding more gradually. It has already lasted roughly 18 months, while previous bull markets typically lasted about a year. Furthermore, the rate of price growth has been more subdued.

In past years, Bitcoin’s gains were much bigger: it increased by 100 times in 2013, grew tenfold in 2017, and rose about six times between 2020 and 2021. So far, Bitcoin has only tripled in price this cycle, though the current run appears far from over.

PlanB offered a possible explanation for the slower ascent. He suggested that a large volume of Bitcoin has moved from private wallets to ETFs and institutional holdings, such as those held by companies like Strategy. This kind of transition tends to reduce day-to-day trading activity, as the assets are held longer term, dampening short-term price momentum.

Market Structure and Momentum Signals

Technical metrics appear to support his perspective. PlanB revealed that major moving averages and the geometric mean are only beginning to separate—a behavior typical of the early stages of previous bull markets. In past cycles, these indicators diverged quickly and widely as prices accelerated.

The Relative Strength Index (RSI) further supports the view that momentum is intact. With a reading of 70.27, slightly above its smoothing average of 68.06, the indicator suggests strong momentum. The index remains well above 50, reinforcing the trend of continued upward movement, even as it experiences brief pauses.

PlanB maintains that, although this cycle is slower and more drawn out than past rallies, key indicators still match historic bull market patterns. He believes Bitcoin hasn’t yet reached its full potential. His stock-to-flow model, along with market and on-chain data, supports his view that major gains lie ahead. If this trend continues, hitting $300,000 by late 2026 could well happen.