PlanB, the creator of the Bitcoin stock-to-flow model, suggests that BTC's price could quadruple from its current value of $60,676.
Bitcoin has a history of significant price increases after surpassing the 200-week Moving Average (MA).
The 200 MA is used to gauge long-term trends, and rising above it is considered bullish.
Historically, BTC prices consolidate and correct before major price pumps in bull markets.
Griffin Ardern from BloFin Research also supports the idea that the bull market is not over.
Ardern notes that options traders remain bullish on BTC's medium- and long-term performance.
The Bitcoin Sell-Side Risk Ratio further supports this bullish sentiment.
While a $240,000 price is not certain, indicators suggest the bull market could continue.
