Quant analyst PlanB predicts a potential 10x price increase for Bitcoin, citing bullish indicators and the early stage of BTC adoption. He expects exponential growth for the next few years, projecting a price range of $100,000 to $1 million. PlanB's model indicates that Bitcoin is entering a bullish phase, with its price surpassing average cost bases, signaling a potential bull market. At the time of writing, Bitcoin is trading at $44,167.
Quantitative analyst PlanB predicts that Bitcoin's price will soar more than 1,847% from its current value of $27,316 after next year's halving event, according to his stock-to-flow (S2F) model. PlanB defends his model against critics who question its accuracy after it inaccurately forecasted Bitcoin would hit $100,000 in 2021. He believes that the halving will probably be at S2F model value $60,000 and BTC will pump after the halving, just like 2012, 2016, 2020 halvings.
PlanB, the creator of the Stock-to-Flow (S2F) model, has introduced a new chart called Bitcoin Market Stages, which suggests that Bitcoin has entered an early bull market as of early 2023. The chart is based on the premise that every market moves in cycles and contains four consecutive phases or stages: early bull market, late bull market, early bear market, and late bear market. PlanB also updated his S2F model, which predicts that Bitcoin will surge 100% by 2024, approaching the $55,000-$60,000 area. The next halving is expected on April 5, 2024.
