- PlanB, an anonymous analyst, has made bold predictions suggesting that Bitcoin could reach an astonishing $500,000 per coin during the next Halving event.
- Based on recent data and the average Stock-to-Flow (S2F) ratio during the halving cycle, as well as the price of BTC, PlanB’s updated model currently predicts a price of $54,000.
- PlanB’s latest predictions align with notable improvements in the overall crypto ecosystem. In particular, Bitcoin has experienced a price surge and tested a critical resistance level.
PlanB, the creator of the Stock-to-Flow (S2F) model, has made a striking price prediction for Bitcoin during the Halving event.
PlanB Makes a Bold Prediction for Bitcoin
PlanB, the pseudonymous analyst and creator of the Stock-to-Flow (S2F) model, has made bold predictions suggesting that Bitcoin could reach an astonishing $500,000 per coin during the next Halving event. The S2F model, which has gained significant popularity within the crypto community, analyzes the relationship between Bitcoin’s scarcity (stock) and production rate (flow).
The model suggests that as Bitcoin’s supply rate decreases over time, its scarcity will increase, leading to a rise in price. Notably, PlanB’s model has gained attention for successfully predicting Bitcoin’s price movements in the past.
Based on recent data and the average S2F ratio during the halving cycle, as well as the price of BTC, PlanB’s updated model currently predicts a price of $54,000. However, at the time of the statement, Bitcoin is trading around $31,000, indicating a deviation from the model’s prediction. PlanB acknowledges the model’s imperfections but believes that it does not invalidate the S2F model.
Additionally, PlanB mentioned that the S2F model predicted a price of $4,400 during the previous halving cycle (2016-2020), but the actual price of Bitcoin was $5,800. This slight difference emphasizes that the model provides insights but is not perfect.
Improvement in the Crypto Sector
PlanB’s latest predictions align with notable improvements in the overall crypto ecosystem. In particular, Bitcoin has experienced a price surge and tested a critical resistance level. At the time of writing, Bitcoin is trading at a spot price of $29,783, experiencing a loss of over 1% in the past 24 hours.
Bitcoin’s resurgence has not only impacted its own value but has also triggered a rally in various alternative cryptocurrencies, often referred to as “altcoins.” As Bitcoin gains momentum, investors and traders often diversify their portfolios by investing in altcoins, leading to increased demand and subsequent price increases for these alternative digital assets.
In the current market environment, altcoins are reaching new highs and gaining new foundations. Positive sentiments towards Bitcoin’s recovery are spreading to investors seeking opportunities beyond the dominant cryptocurrency, thereby expanding into the broader digital currency market.
