Popular quantitative analyst Plan B has doubled down on his prediction that Bitcoin (BTC) will skyrocket to astronomical values during the current bull market cycle.
In a video update, the pseudonymous analyst told his 188,000 YouTube subscribers that his stock-to-flow (S2F) model will see Bitcoin skyrocket between $250,000 and $1 million soon. He said it shows that it is possible.
His stock-to-flow (S2F) model was traditionally used for traditional goods before applying it to Bitcoin, and is based on the idea that the price of an asset increases as its scarcity increases. Predict the performance of
Historically, PlanB's S2F model has predicted that a strong bull market begins immediately after a halving, when miners' rewards are halved.
“Now we have the 2024 halving. We expect the same thing to happen this time as well. Obviously, there will be an increase in model values and a market that will need to adjust prices over time.” There is a lag between. And of course there is inertia in the market…
And of course, again, don't look at the exact numbers. number [after the 2020 halving] It went from $50,000 to an average of $34,000, so that's OK. That's beside the point. Not accurate at all. But if you take a margin of, say, 2x the model price, $500,000 multiplied by 2 equals $1 million, divided by 2 equals $250,000, and that's where I expect the four-year average to end. I am. ”
Source: PlanB/YouTube
The analyst also notes that his stock-to-flow model predicts a higher cycle peak for Bitcoin than many other analysts' models.
“And note that this is much higher than most other models in this space, because we had an even lower bull market than last time, with highs between $200,000 and $300,000. Because there are a lot of models that we think will achieve that. So it's not the average, but the high end, but then it's back to below $100,000 in the next few years.”
At the time of writing, Bitcoin was trading at $95,371, down 2.1% in the past 24 hours.
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