\n
Bitcoin has again stolen the spotlight by surging to a new all-time high of $73,760 on March 14, 2024. <\/p>\n
This figure marks a significant milestone in BTC\u2019s journey, especially as it approaches the much-anticipated halving. PlanB, a prominent figure within the crypto community, shared insights into this phenomenon, providing a prediction about Bitcoin\u2019s future valuation. <\/p>\n
$200,000 Is a Conservative Target for Bitcoin<\/h2>\n At the heart of PlanB\u2019s Bitcoin price prediction is the Stock-to-Flow (S2F) model. It anticipates significant price movements in conjunction with halving events by comparing the current supply of Bitcoin against the flow of new BTC entering the market. These are periods when the reward for mining Bitcoin transactions is halved, thus reducing the supply of new coins. <\/p>\n
According to PlanB, BTC\u2019s alignment with the S2F model\u2019s projections, especially before a Bitcoin halving, is a critical indicator of its future performance. The transition from \u201cblue to red\u201d dots in PlanB\u2019s model marks the shift into new phases of the market cycle, with red indicating a bull market. <\/p>\n
This shift is predicted to continue based on historical patterns, signal growth, and sustained bullish momentum. <\/p>\nBitcoin Stock-to-Flow Model. Source: PlanB<\/figcaption><\/figure>\nPlanB suggests that while the market will face volatility, with potential dips of 20-30%, the overall trajectory remains upwards.<\/p>\n
\n\u201cWe will have a steep increase in price from here, [potentially] $100,000 this year. [But] note that this model jumps in April to roughly $500,000, which is the average price level in this halving period. It [may] take a couple of months or almost a year to reach that level, so the next top will not be this year, but in next year, 2025,\u201d PlanB explained.<\/p>\n<\/blockquote>\n
Regarding the next market top, some anticipate Bitcoin reaching $200,000. However, according to PlanB, such a figure might actually fall short of expectations. From an S2F perspective, he is looking at a target significantly above the average, possibly exceeding $500,000, to align with the model\u2019s projections.<\/p>\n
Read more: Bitcoin Price Prediction 2024 \/ 2025 \/ 2030<\/p>\n
A key factor bolstering this optimistic outlook is the behavior of on-chain indicators, such as the realized price and the two-year realized price, demonstrating remarkable growth during bull markets. The five-month realized price, in particular, establishes a new strong support level at $60,000.<\/p>\n
\n\u201cThe five-month realized price, that\u2019s the short-term holder price, is at $60,000 right now. That would be the aggressive floor because if we look at previous bull markets then you see Bitcoin price doesn\u2019t go below [the five-month realized price]. So that\u2019s my personal aggressive floor that I think we will not go below again,\u201d PlanB added.<\/p>\n<\/blockquote>\nBitcoin Realized Price. Source: PlanB<\/figcaption><\/figure>\nFurthermore, the relative strength indicator (RSI) presents an interesting narrative. Currently, at its highest level before a halving, the RSI suggests that Bitcoin is entering this phase with unprecedented strength. This departure from the pattern of diminishing returns in previous cycles could indicate a shift towards exponential growth.<\/p>\n
In summary, Bitcoin stands at a pivotal moment, supported by a confluence of indicators suggesting its growth is far from over.<\/p>\n
\n
\n
Disclaimer<\/p>\n
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our\u00a0Terms and Conditions,\u00a0Privacy Policy, and\u00a0Disclaimers\u00a0have been updated.<\/p>\n<\/div>\n<\/div><\/div>\n
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