Bitcoin: PlanB’s Latest Model Predicts Bull Market Surge in 2023
The Stock-to-Flow (S2F) model, which gained popularity through analyst PlanB, has been both highly praised and heavily criticized.
Recently, PlanB released a new long-term chart called Bitcoin Market Stages, which suggests that Bitcoin has entered a new bull market as of early 2023.
The chart is based on one on-chain variable, but PlanB does not reveal which one. Unlike S2F, Bitcoin Market Stages is not a predictive or valuation model; instead, it is designed to estimate which stage of the market cycle Bitcoin is in.
PlanB’s new model has four stages: early bull market (blue), late bull market (green), early bear market (yellow), and late bear market (red).
According to the chart, the late bear market phase ended at the end of 2022, indicating that Bitcoin is now in an early bull market.
PlanB has also provided an update on the S2F model based on historical halvings.
The model estimates that Bitcoin’s current price is $55,000 and predicts that the average price of BTC in the current cycle will be $100,000 or as much as $288,000, depending on the version of the model used.
READ MORE: Bitcoin: Bullish Metrics and New Pricing Model Suggest Positive Future
PlanB believes that the Stock-to-Flow Cross Asset Model (S2FX) is the most valuable model but admits that the original S2F model is currently the most accurate.
He predicts that Bitcoin will surge 100% by 2024, approaching the $55,000 – $60,000 range.
This would mean an average monthly increase of $2,500 for the cryptocurrency, assuming the next halving occurs on April 5.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
