PlanB’s Bitcoin Forecast: A Journey To $5 Million Per BTC In The Next Decade
18 Marzo 2024 - 9:00PM
NEWSBTC
PlanB, a popular name within the Bitcoin community, thanks to his
Stock-to-Flow (S2F) model, has shared the latest discourse on
X, igniting a flurry of excitement and speculation. This
discourse particularly highlights BTC’s potential journey through
successive halving cycles. PlanB’s analysis, deeply rooted in the
S2F model, presents a narrative for Bitcoin’s future. This model
scrutinizes the correlation between an asset’s existing reserves
(stock) and annual production (flow) and lays the groundwork for
PlanB’s bold predictions. Related Reading: Bitcoin Price Hits
Support But Fresh Rally Faces Many Hurdles Navigating Through
Predictions: A Community Aweigh According to the model, the
forthcoming halving cycle spanning 2020-2024 is expected to
solidify Bitcoin’s price at around $50,000. But the real spectacle
unfolds in the ensuing cycles, with projections setting the stage
for Bitcoin to ascend to $500,000 in the 2024-2028 cycle,
eventually reaching a monumental $5 million in the 2028-2032 cycle.
Stock-to-Flow 2020-2024 halving cycle: ~$50k Stock-to-Flow
2024-2028 halving cycle: ~$500k Stock-to-Flow 2028-2032 halving
cycle: ~$5m Yes, S2F = exponential growth, and it will continue
IMO. pic.twitter.com/rH1KmIyKSl — PlanB (@100trillionUSD) March 18,
2024 The predictions made by PlanB have sparked interest and debate
among the crypto community. Many are curious to see if Bitcoin will
experience the forecasted substantial growth. An X user responded
to PlanB’s post, expressing hopefulness yet advising caution due to
the limited number of data points that can’t definitively predict
precise future prices, like an average of $500k from 2024 to 2028.
PlanB acknowledged this caution, pointing out that his predictions
are based on three past halving events and the significant
pre-halving period, suggesting that while the Stock-to-Flow model
can guide the general trend, its accuracy comes with a considerable
margin of error. For instance, while the 2020-2024 period was
projected to see an average of $55k, the actual figure was around
$33k. Very true. Only 3 halvings (2012, 2016 and 2020) plus the
crucial pre-halving period (where BTC S2F grew from below 1 to ~4).
And S2F is only for general direction, of course, and with wide
error margin (for example: prediction 2020-2024 was 55k but in
reality ~33k). — PlanB (@100trillionUSD) March 18, 2024
Additionally, another user in the conversation, known as Phoenix of
Crypto, remarked that while PlanB’s projection might seem “overly
optimistic,” the true outcome remains to be seen, emphasizing the
need for patience. This user highlighted the uncertainty
surrounding Bitcoin’s future, especially considering the potential
impacts of ETFs and widespread adoption, signaling an open-minded
but watchful approach to market developments. Bitcoin Latest Price
Action Bitcoin is undergoing a notable decline, having decreased by
7.5% over the last week. This downward trajectory has extended into
the last 24 hours, with the cryptocurrency dropping an additional
1.5%. Despite these setbacks, Bitcoin’s trading price remains at
$67,167 at the time of writing. Skew, a renowned trader, has
provided technical analysis indicating a critical support range for
Bitcoin investors between $60,000 and $67,000. Related Reading:
Bitcoin Threatens To Retreat To $60,000 As Bulls Seek Solid Ground
This range is seen as a possible pivot point for the market’s
direction, concurrently noting the substantial selling activity on
leading platforms such as Coinbase and Binance. $BTC Spot Market
Data Thread, in partnership @_WOO_X $BTC Binance Spot Weekend spot
buyer here Spot Supply ($72K – $74K) Spot Demand ($60K)
Interestingly last bounce which was sold into also resulted in a
stack of limit bids being quoted lower. ~ Keep an eye on those
bids… pic.twitter.com/3PKHyddNlv — Skew Δ (@52kskew) March 17, 2024
Featured image from Unsplash, Chart from TradingView
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