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Analyst Plan B’s Bitcoin Price Prediction
In a recent forecast, crypto analyst “Plan B” predicts significant growth for Bitcoin, with expectations of surpassing $300,000 by 2025 and reaching $100,000 by December 2024.
Bitcoin Moonshot Prediction
Plan B’s prediction is fueled by the upcoming Bitcoin halving event. The analyst emphasizes the positive impact of halvings on BTC’s price, expecting the upcoming halving to follow a similar pattern.
Bitcoin Halving and Stock-to-Flow Model
Bitcoin halvings occur every four years, reducing the rate of new coin creation by half. Plan B’s forecast is based on the Stock-to-Flow (S2F) model, which evaluates Bitcoin’s scarcity and its potential impact on prices.
- The S2F model suggests that as new Bitcoin supply decreases due to halving events, the scarcity of Bitcoin increases, potentially leading to higher prices.
- Increasing institutional interest in Bitcoin, including spot Bitcoin ETFs, is expected to further boost the cryptocurrency’s price.
Timing Strategies Around Bitcoin Halving
Plan B recommends a strategy of buying Bitcoin before the halving and selling shortly after, based on historical price trends. This approach aims to outperform traditional “buy and hold” strategies.
- Traders anticipate price surges leading up to and following halving events, capitalizing on short-term gains.
- Plan B’s projection of Bitcoin outperforming gold post-halving aligns with a scarcity comparison.
Industry Analysts’ Bitcoin Price Forecasts
Plan B’s forecast is in line with other industry experts:
- Cathie Wood of Ark Invest predicts BTC could reach $2.3 million per coin.
- Standard Chartered Bank raises its year-end forecast to $150,000, with a peak of $250,000 in 2025.
- Robert Kiyosaki expects Bitcoin to hit $100,000 by June 2024.
Glassnode anticipates spot Bitcoin ETFs to drive significant capital influx into the market, potentially impacting Bitcoin’s price trajectory in 2024.
Current Bitcoin Price and Market Outlook
As Bitcoin trades around $63,400, enthusiasts await the upcoming halving event with optimism for a potential bullish run in the cryptocurrency market.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
