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PlanB, a well-known analyst in the crypto space, is expressing optimism about Bitcoin's future performance. The analyst recently shared a series of 2024 predictions. These forecasts have remained consistent since late 2022, even during the period. One notable forecast among several is the anticipation of reaching the $100,000 mark in 2024. PlanB has emphasized that these projections, set when Bitcoin was at $20,000 in October 2022, encompass expectations of a rise leading into the April 2024 halving, the halving itself aligning around the S2F model value of $55,000 (with a range of $30,000 to $100,000), a subsequent surge post-halving, and the eventual achievement of the $100,000 milestone in 2024. Additionally, the S2F model indicates an average target value of $532,000 (with a range between $250,000 and $1 million) for Bitcoin. PlanB’s methodology involves applying variations of the stock-to-flow (S2F) model, originally utilized in traditional commodities, to Bitcoin. According to this approach, he envisions BTC potentially approaching the half-million dollar mark by 2025. Reflecting on previous projections in 2021, PlanB potential overestimations in price but maintains confidence in the broader trajectory outlined by the S2F models. Despite Bitcoin currently trading at around $45,110, marking a roughly 169% increase over the past year, PlanB remains resolute in the belief that Bitcoin will see significantly higher values in the years ahead.
Read more: coinspress
