PlanB Forecasts a $100K Average Bitcoin Price Post-2024
PlanB, a well-known figure in the cryptocurrency industry and the creator of the stock-to-flow (S2F) family of Bitcoin price models, has made a bold prediction regarding the future price of Bitcoin. According to PlanB, Bitcoin enthusiasts should seize the opportunity to invest in the cryptocurrency while it is still trading below $40,000, as he forecasts an average price of $100,000 from 2024 onwards.
PlanB's Bitcoin Price Prediction
Projected Average Price: PlanB anticipates that the average price of Bitcoin will be at least $100,000 between 2024 and 2028. This prediction aligns with the next halving cycle of Bitcoin.
Recent Bitcoin Performance: The current resurgence in Bitcoin's price, which recently surged above $38,000, is seen as aligning with PlanB’s projection and suggests long-term market optimism.
Bull Market Phase: PlanB suggests that Bitcoin is currently in its pre-bull market phase, implying that the days of Bitcoin trading at its current levels are numbered.
Factors Influencing the Prediction
Bitcoin ETF Introduction: The potential introduction of a Bitcoin ETF is expected to generate significant new demand, potentially unlocking an estimated $70 billion, which could fuel further growth.
Bitcoin Halving Event: PlanB's prediction takes into consideration the next Bitcoin halving event, historically known to impact the price significantly. The halving is expected to occur after 2024, potentially leading to a price climb above $100,000.
Context and Considerations
Stock-to-Flow Model: PlanB's predictions are based on the stock-to-flow model, which has been both influential and controversial in predicting Bitcoin's price. Despite facing criticism, especially after Bitcoin did not meet his expectations in the 2021 bull market, PlanB remains confident in his long-term predictions.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
