Bitcoin: How far can the Asset go in the Next Bull Run?
PlanB, a quantitative analyst, has updated his Bitcoin price forecast over the next three years using the stock-to-flow (S2F) ratio.
This ratio usually used to predict the future price of scarce commodities, is determined by dividing the amount of Bitcoin in circulation by the amount of Bitcoin mined per year.
PlanB has maintained two slightly different S2F models, which have remained intact. He identifies the upcoming Bitcoin halving as the vital catalyst to spark a BTC bull run.
PlanB predicts Bitcoin’s next top to be in the $100,000 to $1,000,000 range
According to PlanB’s S2F models, BTC’s next top is expected to be between $100,000 and $1,000,000, with the S2F model indicating $500,000.
PlanB acknowledges that some people may not like the range estimates. Still, he prefers them because they indicate broad volatility, which is more valuable than a point estimate that pretends to be accurate.
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PlanB’s short-term watch is Bitcoin’s 200-week moving average
In the short term, PlanB is watching Bitcoin’s 200-week moving average.
BTC > Realized price but when BTC > 200WMA? pic.twitter.com/2cO66y2yW1
— PlanB (@100trillionUSD) February 19, 2023
BTC briefly crossed above the moving average last week but has since dropped below it. Historically, long-term Bitcoin bull runs have been triggered after BTC crosses above the line.
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.
