Well-known analyst Plan B predicts a major breakthrough for Bitcoin
As the Bitcoin market enters a new bull run, well-known cryptocurrency analyst Plan B has once again attracted market attention. He recently pointed out that Bitcoin is expected to exceed $100,000 by the end of 2024, and by 2025, this number may even be as high as $500,000. This forecast is based on the analysis of multiple technical indicators and market cycles, especially his well-known "Stock-to-Flow (S2F model)".
Source: Plan B Plan B’s S2F model predicts that Bitcoin will break $100,000 by the end of the year, and is more likely to reach $500,000 in 2025.
Plan B's analysis relies heavily on a number of technical indicators, including the relative strength index (RSI) and the 200-week moving average. He emphasized that RSI is a key indicator and when its value exceeds 50, it usually means that the market is in an uptrend. Currently, Bitcoin’s RSI is around 66, suggesting that the market is at the beginning of a new bull run. Based on past bull market experience, the RSI value is likely to rise to 80 or even 90, which will further promote the rise of Bitcoin price.
"Stock-to-flow model" supports long-term bull market trend
Plan B is world-famous for its “stock-to-flow model” (S2F model), which predicts the long-term trend of Bitcoin prices and emphasizes that Bitcoin prices will rise sharply after each halving event. His analysis shows that the price step function in the S2F model is consistent with the price trend before and after each halving event, indicating that the Bitcoin price will rise sharply again after the upcoming halving event.
In addition, Plan B also analyzed Bitcoin’s market cycle chart, which he created in 2019 to assist the S2F model in revealing the current market stage. According to this chart, Bitcoin is currently in the early stages of a bull market, which is consistent with the long-term bull trend predicted by the S2F model. Plan B believes this model will continue to support the long-term rise in Bitcoin prices.
Figure source: Plan B Plan B analysis The price step function in the S2F model is consistent with the price trend before and after each halving event
Bitcoin’s future prospects are optimistic, and the market is looking forward to further gains
Despite some volatility in current market dynamics, Plan B remains a firm believer in the long-term value of Bitcoin. He pointed out that Bitcoin’s 200-week moving average is a stable long-term technical indicator that can effectively smooth short-term price fluctuations and is highly consistent with Bitcoin’s four-year halving cycle. The upward trend in this indicator provides a solid foundation for Bitcoin’s long-term price action.
According to Plan B’s predictions, Bitcoin will break through $100,000 by the end of 2024 and reach a high of $500,000 in 2025. All this shows that Bitcoin is ushering in a new historic stage, and investors should pay close attention to market dynamics in the coming months.
As the Bitcoin market gradually recovers, Plan B’s optimistic forecast has given the market a shot in the arm. Both short-term technical indicators and long-term market cycles show that Bitcoin has the potential to rise further. As the market develops further, whether Bitcoin can really reach the heights predicted by Plan B will become the focus of global investors.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
