In a recent YouTube video, well-known Dutch Bitcoin (BTC) analyst Plan B shared his predictions for this year and next. The former institutional investor bases his forecast on seven key charts, including the well-known Stock-to-Flow (S2F) model.
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Stock-to-Flow Model: Forecast of $532,000 in 2024
The Stock-to-Flow model, which illustrates the relationship between inventory and production, predicts a Bitcoin value of $532,000 in 2025. Plan B highlights that historically, the Bitcoin price has risen every time after the BTC Halving is rising, and assumes that this time there will be no exception.
The analyst notes that in previous cycles, Bitcoin price did not immediately enter a new bull market after the BTC rewards for miners were halved. He believes that this time too we will have to be patient for a long-term explosive upward trend.
The current model value is between $50,000 and $60,000, which he believes suggests we can expect a steady rise towards these prices in the coming months leading up to the Bitcoin halving.
At a current price of around $44,100, Bitcoin is about 13.4 percent away from the magic $50,000 mark. To reach the price of $60,000, Bitcoin needs to rise by around 36.1 percent.
According to PlanB, everything points to a new BTC bull market
It Bitcoin market cycle model suggests that we are currently in the accumulation phase, a harbinger of the bull market to come. Plan B emphasizes the regular pattern of accumulation, bull market, distribution and bear market.
The RSI chart, which shows the dynamics of price movements, suggests a gradual increase in the price of Bitcoin towards the halving. The high RSI values ​​after the halving indicate a steep uptrend, which is consistent with other prediction models.
The Simple moving averageThe 200-week chart suggests that the halvings are significant, with a forecast of $45,000 to $60,000 at the time of the halving. The pattern suggests an impending bull market that could take Bitcoin into the $100,000 to $1 million range.
Related to on chain Data shows it Realized pricePattern that we have left the 2022 bear market far behind us. The rise above cost prices signals the start of a new bull market, with predictions putting Bitcoin in the $100,000 to $1 million range.
All in all, PlanB is extreme bullish for next year and 2025. See his full analysis in his detailed video above.
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