Here’s When Bitcoin (BTC) Will Soar to $100K and $1M, According to PlanB’s S2F
The creator of the Bitcoin stock-to-flow (S2F) model, PlanB, has doubled down on his bitcoin (BTC) predictions for this bull cycle.
According to a tweet by the crypto analyst, BTC will surge past $100,000 this year and possibly touch the $500,000 mark next year, rallying within the $250,000 and $1 million range.
BTC at $500K in 2025?
PlanB said his predictions for bitcoin’s price movement in 2024 and 2025 have not changed since he revealed them in October 2022 when the cryptocurrency was below $20,000. At the time, he said the increased BTC scarcity stemming from the Bitcoin halving will pump the asset’s value like it did in 2012, 2016, and 2020.
Although the Bitcoin S2F model has been criticized in recent years for its inaccuracy, PlanB’s analysis has recorded a few wins. Most recently, he forecasted that BTC would rally as the halving approached and that the event would take place while the asset’s value hovered between $55,000 and $60,000.
The predictions came through, with BTC hitting an all-time high of $73,700 before the halving and retracing to $63,000 during the event. It remains to be seen when the cryptocurrency will cross $100,000 this year and reach the $500,000 target next year.
The Onset of a New Cycle
Last month, the crypto analyst said May marked the beginning of a new countdown to the next halving scheduled for 2028. He said bitcoin’s performance in April disclosed a closing price of $60,632, which signaled the end and completion of the previous halving cycle.
PlanB believes BTC could reach an average price of $500,000 between 2024 and 2028. The S2F model’s average price prediction for the 2020-2024 halving cycle was $55,000, but BTC recorded $34,000.
The S2F model’s analysis quells worries from crypto community members about BTC rallying to new highs post-halving since the cryptocurrency hit an all-time high before the event. PlanB said in March that BTC would witness ten months of “face-melting FOMO,” comprising extreme price pumps and multiple drops as low as 30%. Regardless, the asset would rally to new highs in the coming months.
Meanwhile, PlanB believes BTC would never go below $33,000 again in subsequent bear markets and post-halving slumps.
The post Here’s When Bitcoin (BTC) Will Soar to $100K and $1M, According to PlanB’s S2F appeared first on CryptoPotato.
