PlanB Predicts Bitcoin’s Potential 4X Gain in Current Market Cycle
Renowned quant analyst PlanB predicts significant gains for Bitcoin (BTC) in the current market cycle.
PlanB expressed disappointment with a $200,000 price peak for Bitcoin at the end of the current bull market. He relies on his stock-to-flow model, which compares the circulation of a commodity to its annual production, to project a potential 660% rally from current prices before the market cycle concludes.
According to PlanB, the next market top is likely in 2025, not 2024, with a projected peak much higher than $200,000. He suggests figures around $600,000 to $1,000,000 based on stock-to-flow analysis.
However, PlanB cautions that Bitcoin’s ascent will not be without obstacles. He anticipates multiple corrections in the coming months on the path to reaching his price target, emphasizing the normalcy of volatility in the market.
READ MORE: Peter Schiff Critiques Bitcoin Preference Over Gold Among Younger Investors
Despite these fluctuations, PlanB advises a hands-off approach, suggesting that he personally will refrain from making any significant moves for the next 12 months, opting to reassess his strategy when the market transitions from a bull phase to distribution.
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.
