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Widely followed crypto analyst PlanB has stated his certainty that Bitcoin (BTC), the flagship of the markets, will surpass the six-figure mark this year. The senior analyst also revealed his targets for Bitcoin in 2024!
Bitcoin’s 2024 Target
The crypto analyst shares a series of predictions for 2024 with his followers on social media platform X, claiming they have not changed since the deep bear market of late 2022. One of his predictions is a $100,000 target for Bitcoin in 2024. The senior crypto analyst stated the following in his remarks:
My forward-looking prediction for 2024 has not changed since October 6, 2022, when Bitcoin was at 20,000. The upcoming process for Bitcoin is as follows: a rise at the April 2024 halving, S2F model value around 55,000 (range between 30,000-100,000) at halving, post-halving increase, 2024 target of 100,000 dollars, S2F target value average 532,000 (range between 250,000-1 million)
Critical Formation from PlanB
The expert known as PlanB is recognized for applying his own versions of the stock-to-flow (S2F) model, originally used in traditional commodities, to Bitcoin. PlanB asserts that based on the S2F, he predicts BTC could approach half a million dollars in the next few years, potentially by 2025. The expert analyst stated:
Bitcoin 2023 closing: $42,258. A 156% increase from $16,528 in 2022. Ready for ETFs and halving in 2024!
PlanB expected a higher price than the peak Bitcoin reached in 2021. Although the analyst admits that price models may have exceeded targets at that time, he still believes that S2F model predictions will come true over time and that BTC will see much higher prices in the coming years. Consequently, PlanB predicts that Bitcoin will exceed $100,000 in 2024 and could surpass half a million dollars by 2025. The analyst makes this prediction based on the traditional stock-to-flow model.
At the time of writing, Bitcoin, the leading cryptocurrency, is trading at $45,110, an increase of approximately 169% compared to the previous year.
