Top analyst predicts when Bitcoin (BTC) price will reach $100,000

Top analyst predicts when Bitcoin (BTC) price will reach 0,000

The creator of the popular Stock-to-Flow (S2F) Bitcoin price prediction model, an analyst who goes by the pseudonym PlanB, has shared his latest forecast for the leading crypto.

According to PlanB, Bitcoin is set to break the $100,000 mark after the 2024 halving event.

Bitcoin is headed for $100,000

The S2F model is a valuation method that can predict the price of Bitcoin by assessing its scarcity. It is based on the relationship between the existing supply of an asset and the rate of production or inflow.

In the context of Bitcoin, the “share” represents the total number of BTC currently in circulation. Meanwhile, the “flow” refers to the rate at which new BTC is created through mining. The S2F ratio divides the stock by the flow, which quantifies Bitcoin’s scarcity.

PlanB is confident that Bitcoin experienced a cyclical low of $15,500 in November 2022. This marked a capitulation event amid the collapse of the crypto exchange FTX.

Bitcoin BTC Price $100,000
Bitcoin US Dollar Price. Source: TradingView

The analyst mean that Bitcoin’s achievement of the $32,000 level in the near future will confirm the possibility of reaching $60,000 pending the 2024 halving event.

PlanB claims that the breakthrough of the $100,000 level will occur in 2025 after the halving.

Bitcoin S2F model
Bitcoin S2F model. Source: Twitter

Unfortunately, PlanB’s prediction history has shown that the analyst is not always accurate.

For example, in November 2021, when Bitcoin reached a new all-time high of $68,789, the author of the S2F model predicted that BTC would rise to $100,000 by the end of the month. Subsequently, PlanB retracted its prediction, drawing a wave of criticism from the crypto community.

See also  Bitcoin crashes through $22,000 floor as Silvergate crypto bank failure hits market

In the past, the editors at BeInCrypto have analyzed PlanB’s publications. The conclusion is that the majority of the S2F model author’s predictions do not hold true.

As a reminder, experts have previously shared their thoughts on how much Bitcoin could be worth after the 2024 halving event.

Disclaimer

In line with Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, objective reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *