PlanB Predicts Bitcoin (BTC) to Surpass $100,000 in 2023 and Reach $500,000 in 2024

  • The Bitcoin stock-to-flow (S2F) model creator, PlanB, has reaffirmed his bullish predictions for BTC.
  • He projects Bitcoin will exceed $100,000 in 2023 and could reach up to $500,000 in 2024, with a potential range of $250,000 to $1 million.
  • Notably, PlanB’s model has faced criticism but still holds a dedicated following due to some accurate past predictions.

PlanB’s renewed confidence in BTC projections prompts speculative excitement in the crypto community.

BTC at $500K in 2025?

PlanB maintains that Bitcoin’s price trajectory for 2024 and 2025 remains consistent with his predictions from October 2022, when BTC traded below $20,000. He attributes this anticipated surge to the increased scarcity following the Bitcoin halving, similar to historical patterns observed in 2012, 2016, and 2020.

Despite facing criticism for occasional inaccuracies, the Bitcoin S2F model has had notable successes. For instance, PlanB accurately predicted a rally in BTC prices leading up to the halving, resulting in BTC reaching an all-time high of $73,700 before the event, and settling around $63,000 during the halving.

The key question now is whether Bitcoin will surpass the $100,000 mark this year and achieve the ambitious $500,000 target next year.

The Onset of a New Cycle

PlanB recently indicated that a new cycle commenced in May, counting down to the next halving scheduled for 2028. He pointed out that Bitcoin’s performance in April, closing at $60,632, marked the end of the previous halving cycle.

According to the S2F model, the average projected price for Bitcoin between 2024 and 2028 is $500,000, in contrast to the $55,000 average forecast for the 2020-2024 cycle, where BTC managed $34,000.

This analysis helps alleviate concerns within the crypto community about post-halving price trends, given BTC’s all-time high occurring pre-halving. PlanB suggests the next ten months will feature extreme market movements, with significant price rallies and corrections of up to 30%, yet ultimately leading to new highs.

Moreover, PlanB posits that Bitcoin will not drop below $33,000 in future bearish cycles or post-halving declines.

Conclusion

In conclusion, PlanB’s renewed predictions keep investors optimistic about Bitcoin’s future performance amidst halving cycles. His insights suggest potential unprecedented growth, with BTC possibly hitting new highs beyond historical precedents. Investors and watchers alike will keenly observe these developments, keen to see if PlanB’s forecast holds true and leads to a historic bull run.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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