đ±đ„PlanB, a well-known analyst, predicts Bitcoin will reach $ 100,000 in 2024 based on her Stock-to-Flow model
Get ready for exciting news about Bitcoin! #PlanB the mastermind behind the Stock-2-Flow (S2F) model, known for its accurate market forecasts, has something big to say. He is confident that the value of #Bitcoin will increase rapidly and aims to reach $ 100,000 in 2024.
Despite the ups and downs experienced after the halving, PlanB remains optimistic. He sees these market fluctuations as stepping stones for Bitcoin to climb to new heights. Using on-chain data and the Relative Strength Index (RSI), he was convinced that Bitcoin was on solid ground and that $60,000 served as a strong support level.
Here's what he had to say.
The Solution of the Stock-Flow Model
PlanB supports its prediction with in-depth analysis by linking the value of Bitcoin to an Inventory-Flow model. The Stock-Flow model is a widely followed model that correlates Bitcoin's scarcity with its price.
Although Bitcoin closed the month slightly below $ 60,000, he notes that it is still up 36% since the beginning of the year. Emphasizing the importance of the current month being the last "Blue Dot" before the next halving, he notes that historically, the Bitcoin price has been consistent with the Stock-Flow model at this point in the halving cycle.
PLANB's Bold Prediction
But hold on tight to your hats because PLANB's predictions stretch far into the future. According to him, Bitcoin can not only reach $ 100,000, but also rise to a staggering $ 500,000 by 2028. And while Bitcoin is currently hovering around $60,000, it seems entirely possible to reach the six-digit figure this year.
PlanB expects the bull market to peak by 2025. He is considering whether Bitcoin's rise will be stable or explosive. Despite the different opinions, he firmly believes in the correctness of the Stock-Flow model and predicts exponentially increasing earnings led by the relatively low adoption rate of Bitcoin.
