A prominent analyst known as Plan C has outlined a bullish scenario in which Bitcoin enters its first true supercycle, a multi-year structural shift that departs from the historical four-year, halving-driven pattern.
According to Plan C, the cycle began with a November 2022 low near $16,000, reached amid market turmoil after the collapse of FTX. From those lows, Bitcoin recovered and, in Plan C’s view, climbed to a first major peak just above $126,000 in October 2025.
After that rally, the market experienced a sharp correction toward roughly $60,000 in February 2026. Plan C characterizes that decline as a mid-cycle bottom; his assessment echoes research from Grayscale Investments, which also identified February 2026 as a durable low for the current cycle.
Looking ahead, Plan C projects the next sustained bullish phase to unfold between late 2027 and early 2028, with a potential lifetime peak near $250,000. That target represents roughly a 206% increase from the low-$80,000 price level cited as a reference point in his forecast.
Central to Plan C’s thesis is the idea that this cycle is structurally different from prior ones: rather than being tightly coupled to four-year halving events, Bitcoin may be entering an extended period of elevated returns driven by broader, longer-lasting demand dynamics.
If the supercycle thesis proves accurate, it would imply a reshaped market framework and a prolonged run of outsized returns. Plan C’s projection depends on a number of variables, including sustained demand, macroeconomic conditions, and the continuation of the structural changes he identifies.
Investors and market watchers will be observing these indicators closely as the projected 2027–2028 window approaches, while keeping in mind that such long-range forecasts carry significant uncertainty and hinge on evolving market and macro factors.