Bitcoin: Adoption S-Curve to Propel BTC Much Higher – PlanB
PlanB, a quantitative analyst, believes that a rapid acceleration in Bitcoin's global adoption could push the cryptocurrency to unprecedented heights.
Using the adoption S-curve, which tracks the cumulative rate at which people adopt breakthrough technologies, PlanB predicts that Bitcoin‘s pace of adoption is about to see an unprecedented level of acceleration that could bring its price to as high as $10 million by 2028.
In a series of tweets, PlanB explains that the most powerful part of Bitcoin’s adoption S-curve, is just around the corner.
If Bitcoin adoption is currently at 1-5%, PlanB says, then the cryptocurrency is about to enter the vertical portion of the S-curve in the next couple of years. This means that BTC’s pace of growth will become even more exponential until it reaches 50% adoption.
The analyst says he “has enjoyed Bitcoin’s adoption over the last 10+ years,” but he’s particularly excited about the vertical part of the S-curve in the next halving period, which will run from 2024 to 2028. He believes this will lead to a significant increase in the price of Bitcoin.
If bitcoin adoption is now 1-5% then we will enter the vertical of the S-curve next couple of years.
On log scale (left) this just means more exponential growth until 50% adoption. For the linear thinkers (right) everything will change. Bitcoin might be substantially undervalued. pic.twitter.com/IEnKYw5Ixz— PlanB (@100trillionUSD) February 28, 2023
PlanB is well-known for applying the stock-to-flow scarcity model to Bitcoin, which divides the total supply of an asset by the new supply entering the market to forecast future price movements.
READ MORE: Silvergate Bank Ordered to Return $9.85 Million to BlockFi
According to this model, PlanB predicts that Bitcoin’s next top will occur around 2025, with its price landing between $100,000 to $1,000,000.
Overall, PlanB is bullish on Bitcoin’s prospects for the future and believes that its adoption will only continue to accelerate, leading to even more exponential growth in the coming years.
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
