Bitcoin Analyst PlanB Reaffirms Prediction of BTC Surge to $250,000-$1 Million

PlanB’s Bold Prediction for Bitcoin’s Bull Market

Quant analyst PlanB is standing by his forecast that Bitcoin will skyrocket to unprecedented levels in the current market cycle. Using his stock-to-flow (S2F) model, PlanB suggests that Bitcoin could reach anywhere between $250,000 and $1 million.

Stock-to-Flow Model and Bitcoin’s Scarcity

PlanB’s S2F model, originally designed for traditional commodities and now applied to Bitcoin, operates on the principle that asset scarcity drives price appreciation. The model historically indicates strong bull runs following halving events when miners’ rewards are halved.

PlanB’s Expectation for Bitcoin’s Future

Referring to the upcoming 2024 halving, PlanB anticipates a similar trajectory as seen in previous cycles. While acknowledging the margin of error in the model’s predictions, he suggests a potential BTC average price range between $250,000 and $1 million over the next four years.

Comparing Models: PlanB vs. Other Analysts

PlanB’s optimistic forecast contrasts with many other analysts who predict a lower peak for Bitcoin’s price, ranging between $200,000 and $300,000 before a decline below $100,000 in the following years.

Bitcoin’s current price stands at $95,371, showing a 2.1% decrease in the last 24 hours.

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