PlanB, the mastermind behind the bitcoin stock-to-flow model, foresees a resilient BTC, refusing to dip below $32,000 until the much-anticipated halving in 2024.
In the intricate dance of Bitcoin’s value, the halving event, set for April 2024, plays a pivotal role by slicing production and mining rewards in half, boosting scarcity, and subsequently elevating the asset’s worth.
History tells a compelling tale — after each halving, BTC enters a bullish trajectory. PlanB’s market cycle model signals that we’re currently in the pre-bull market stage, poised for a significant surge post-halving. A caveat, though: regulatory approval for spot Bitcoin ETFs could alter this trajectory.
PlanB’s recent tweet was a response to skepticism about nabbing BTC at $29,000 during the pre-bull season. Now, with BTC hovering around $37,000, the suspense builds — will PlanB’s foresight endure, or will market dynamics play spoiler?
From a $100,000 projection in February 2022 to a revised $60,000 forecast in April, PlanB’s predictions might seem erratic. However, he also prophesied a million-dollar BTC by 2025 earlier this year. With BTC under $40,000, skeptics arise, but surprises could be lurking, pushing BTC to unprecedented highs.
As the crypto landscape unfolds, PlanB’s predictions stand as a compass, guiding investors through the volatile seas of the digital market. Only time will unveil the true narrative, revealing whether PlanB’s vision becomes reality or if the crypto arena has surprises in store.
BitminerFactory is brought to life by Darrell Houghton, our astute publisher. With a deep-rooted passion for crypto and crypto mining spanning many years, Darrell’s unwavering enthusiasm fuels his daily quest for knowledge. He is eager to share the pivotal news stories of the day while also providing his own analysis and commentary with Bitminer Factory’s readers.
Source: CryptoPotato
