PlanB Issues Bold Bitcoin (BTC) Price Prediction for 2024-2028

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As a researcher with a background in cryptocurrencies and market analysis, I find PlanB’s predictions for Bitcoin price intriguing. Based on his use of both the power law and stock-to-flow (S2F) models, he anticipates significant growth in the coming years, with a closing price of around $150K for 2021 and a best-case scenario of $800K by 2025. However, he also expects Bitcoin to enter a bearish outlook from 2026 to 2028, with prices potentially dipping below $400,000 during that period.

Bitcoin advocate and creator of the stock-to-flow (S2F) model, known as PlanB, has made a daring forecast regarding the cryptocurrency’s price development over the next few years. His predictions are founded on the principles of power law in conjunction with the S2F model.

Based on PlanB’s predictions, it is expected that Bitcoin’s closing price for the year will be approximately $150,000 – a figure consistent with the anticipated exponential growth.

In the optimistic viewpoint of our cryptocurrency expert, he projects that Bitcoin’s price could hit $800,000 by the close of 2025. Following this peak, the analyst anticipates a prolonged bearish trend for Bitcoin, lasting up until 2028.

Specifically, PlanB believes Bitcoin price will close 2026 trading around $0.4 million, in 2027 around $300K, and about $0.4 million in 2028.

Prior to this, a cryptocurrency analyst had noted that the application of the power law principle, which highlights decreasing yields, suggested a Bitcoin peak at roughly $210,000 and a floor of no less than $70,000.

As a crypto analyst, I’ve observed that according to the S2F model, the Bitcoin price could reach a minimum of $100,000 and a maximum of $500,000.

As a crypto investor, I understand that the analyst’s data is subject to regular adjustments based on the dynamic nature of cryptocurrency markets. The actual price movements in the upcoming months will significantly influence these figures.

I have a preference for both the Power Law and S2F models. These graphs you see are simply representations of trendlines fitted to the data. The data currently indicates strong support for both (high R-squared values), but this may shift over time. Power Law follows a pattern of diminishing returns, with significant gains limited at the top ($210k) and minimal gains at the bottom ($69k). On the other hand, S2F exhibits exponential returns, featuring substantial increases at the top ($500k+) and considerable growth at the bottom ($100k+). Let’s wait and observe how these trends evolve.

— PlanB (@100trillionUSD) June 7, 2024

Bitcoin (BTC) Demand on the Rise

I’ve analyzed the Bitcoin market recently and found that demand has remained robust in the past few weeks, driven primarily by substantial cash inflows into spot Bitcoin Exchange-Traded Funds (ETFs). To put it into perspective, as reported by Coinspeaker, these U.S.-based Bitcoin spot ETFs have amassed over two months’ worth of mined BTC supply.

The amount of Bitcoin held on centralized exchanges is currently at a multi-year minimum, signaling robust demand in the market.

Based on Glassnode’s analysis of blockchain figures, around 22,647 Bitcoin tokens, equivalent to over $1.57 billion, were taken out of centralized trading platforms during the past week.

As a researcher studying the cryptocurrency market, I’ve noticed that the recent approvals of spot Bitcoin Exchange-Traded Funds (ETFs) in Hong Kong, Thailand, and Australia have greatly enhanced the overall sentiment towards Bitcoin. Moreover, the evolving regulatory landscape in significant markets such as Europe, India, and the United States suggests an imminent mainstream adoption of digital assets and Web3 technologies.

Midterm BTC Price Targets

Based on a report from Coinspeaker, the price of Bitcoin is projected to reach approximately $83,000 following its successful breakthrough above the resistance point between $72,000 and $74,000. Noted crypto analyst Ali Martinez indicates that a significant support area has formed around $69,380 to $67,350, which encompasses approximately 1.97 million wallets holding around 964,000 Bitcoins.

The price fluctuations of Bitcoin have had a notable effect on the altcoin market, implying a strong connection between the two. A look at Bitcoin’s weekly chart shows it holds considerable dominance, which could signal an impending market shift, reinforced by a bearish divergence observed in the Relative Strength Index (RSI).

A reversal in Bitcoin dominance and the ETH/BTC pair will trigger the much-anticipated altseason.

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2024-06-10 18:18