Bitcoin to Soar Around 1,850% to New All-Time Highs After Halving – PlanB
PlanB, a well-known quantitative analyst, has made a bold prediction regarding the future of the biggest cryptocurrency Bitcoin (BTC).
According to his stock-to-flow (S2F) model, Bitcoin’s value will increase by over 1,847% from its current price of $27,316 after the cryptocurrency’s halving event next year.
My Jan 12 prediction is in line with S2F model:
1) ~$32K is S2F 1 standard deviation band
2) ~$60K is S2F model value and just before halvings (dark blue) BTC seems to hit S2F model values
3) $100K is the bottom of my 100K-1M range around $532K S2F model value after 2024 halving https://t.co/V74Y8VYCVo pic.twitter.com/EVqO6jWH6X— PlanB (@100trillionUSD) April 20, 2023
The S2F model is typically used to predict the performance of commodities such as gold and silver based on the idea that the price of an asset increases as it becomes scarcer. PlanB expects Bitcoin to reach his massive target after the halving, which reduces the reward for BTC miners by half.
Despite facing criticism from those who question the accuracy of his S2F model, PlanB remains confident in its ability to predict market trends. He argues that the model accurately forecasted Bitcoin’s price increases after the 2012, 2016, and 2020 halvings, suggesting that the halving cycle is fundamental to Bitcoin’s value.
However, he acknowledges that some may have become too fixated on the model’s $100,000 prediction for 2021 and stresses that there are many misunderstandings about the S2F model and models in general.
READ MORE: Bitcoin: Market Theory Gives Hope to the Bulls
PlanB also defends his S2F model against accusations of inaccuracy, saying that it has worked as expected and made him money since he created it in March 2019, when Bitcoin was priced at less than $4,000.
Saying S2F model is "wrong/invalid/broken", means saying BTC price pumps after 2012, 2016, 2020 halvings (red arrows) are coincidences, random, unrelated to halvings.
Possible, but I disagree. IMO 21M cap, supply schedule, 4y halving cycle are fundamental to BTC price. IMO the… pic.twitter.com/2ZOUGPhVtM— PlanB (@100trillionUSD) April 21, 2023
He believes that Bitcoin’s bottom was $15,500 and that the halving will likely occur at the S2F model value of $60,000, with BTC soaring after the event.
If PlanB’s prediction proves correct, Bitcoin investors could be in for a significant windfall in the coming years. However, as with any investment, there are no guarantees, and it’s essential to do your own research and seek professional advice before making any decisions.
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.
