The post BTC Price Prediction: What Will Be The Price of Bitcoin After 2024 Halving? appeared first on Coinpedia Fintech News
In a bold prediction that has everyone talking, a well-known analyst, PlanB, has made an eye-opening guess about Bitcoin’s future price. According to PlanB, the price of Bitcoin could surge to a whopping $500,000 in the next halving event, leaving crypto fans thrilled and curious.
Bitcoin’s Future: $500K Price Tag?
To back his point PlanB uses something called the Stock-to-Flow (S2F) model, which looks at how rare Bitcoin is and how fast it’s made. The model suggests that when Bitcoin becomes rarer over time, its price goes up. And interestingly, this model has been right about Bitcoin’s price before, making people pay attention to its latest prediction.
S2F-model update, based on on latest data and halving cycle average S2F-ratio and BTC price:– for current halving cycle model still says $54k. BTC is $31k (average)– for 2016-2020 cycle model predicted $4.4k. BTC was $5.8kFor me the model error is OK and surely doesn't make… pic.twitter.com/yAhdXytkbf
— PlanB (@100trillionUSD) July 18, 2023
But there’s a little twist. Right now, Bitcoin’s price is about $31,000, which is quite different from the model’s expected value of $54,000. But PlanB says this doesn’t mean the model is wrong; it just shows that even good predictions can sometimes be a bit off. In the past, the model also predicted a price close to reality, so many still trust it.
This news comes at an exciting time for the crypto world. Bitcoin has been going up and up, and right now, it’s around $29,741.98. Interestingly, that’s more than a 1% increase in just one day! Bitcoin’s success has also boosted other cryptocurrencies, known as altcoins, which are also reaching new highs.
With all the buzz, some experts remind everyone to be cautious. The crypto market is known for changing quickly and can be influenced by things like rules from governments and how people feel about it. So, while the prediction is exciting, it’s good to stay smart and not put all your trust in just one forecast.
In the end, people in the crypto community are excited about PlanB’s big guess, thinking about what a $500,000 Bitcoin could mean for them. But, as always, it’s best to keep an eye on the market, stay informed, and remember that predictions are exciting, but they might not always come true. So, let’s wait and see what the future holds for Bitcoin and the crypto world!
