'Enjoy sub-$40K Bitcoin' — PlanB stresses $100K average BTC price from 2024

Bitcoin is in its "pre-bull market" phase and the days of BTC price trading at current levels are numbered, the Stock-to-Flow creator says.

Bitcoin (BTC) buyers should “enjoy” the chance to add to their stack below $40,000, says one of crypto’s household names.

In a post on X (formerly Twitter) on Nov. 24, PlanB, creator of the Stock-to-Flow family of BTC price models, hinted that current levels would not be around long.

PlanB: Time is ticking on $40,000 resistance

Bitcoin is destined to go much higher than its recent 18-month highs, PlanB believes, and time is ticking to increase BTC exposure below $40,000.

Known for his optimistic takes on long-term BTC price growth, PlanB this time used realized price data to support the case for bulls.

Realized price is Bitcoin’s realized cap — the sum total price at which all BTC last moved — divided by the current supply. It is currently at just below $21,000.

Bitcoin bear market bottoms are characterized by spot price dipping below realized price, while bull markets have begun once spot crosses the two-year and five-month realized price levels. These refer to the realized price of coins which last moved within either the last two years or five months — “younger” coins.

BTC/USD is now once again above all three realized price iterations.

“Enjoy sub-$40k bitcoin ... while it lasts,” PlanB thus commented on an accompanying chart.

Bitcoin realized price chart. Source: PlanB/X

Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin’s next halving cycle.

Bitcoin hodlers bet on six figures

While PlanB has fielded criticism over Stock-to-Flow — and conceded that Bitcoin was not able to live up to his expectations during its 2021 bull market — six-figure predictions for the next cycle are increasingly common.

Related: Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildly

As Cointelegraph reported, these are coalescing around an area with $130,000 as its focus for the end of 2025.

The halving itself, meanwhile, due in April 2024, should produce a return to around $46,000, further Analysis says.

Earlier this month, PlanB described Bitcoin as being in a “pre-bull market” phase, with the real launch yet to come.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Comments

Post a Comment

Popular posts from this blog

LBank Breaks Down Bitcoin's Double-Digit Price Surge

Image
Road Town, BVI, 25th March, 2023, Chainwire Global cryptocurrency exchange LBank has analyzed Bitcoin’s spot performance, which has culminated in an eight-month high of $28,000. LBank Co-founder Johnason Chan and LBank Labs board of directors member Czhang Lin have provided in-depth analysis of the price increase.  Shortly after the collapse of Silvergate Bank, Silicon Valley Bank (SVB), and later Signature Bank , liquidity concerns for decentralized fintech players piled up. Many believed a valuation drop would have been inevitable for crypto. However, Bitcoin has performed beyond expectations, starting the week off with a 27% rise to just below $28,000 . At the time of writing, the world’s largest digital asset by market capitalization seems to have stabilized, continuing to hover around $28,000. The market movement of Bitcoin is hard to make sense of, considering the ongoing unraveling of a banking crisis and expectations of further US interest rate hikes . However,...
Read more

How to Buy Bitcoin in 2023

This is the best time to get into the Bitcoin trade. Cryptocurrencies are now widely accepted and they are making their way to traditional stock exchanges, with the backing of some large investors. They are easy to use and countless businesses accept them as a payment option. In this article, we’ll explain what are the best ways to buy Bitcoin and how to do it as a novice. We’ll also present you with a few options when it comes to exchanges since all of them have some unique benefits that may be useful to a specific group of investors. The Essentials  Before getting into the different exchanges and how to use them, we’ll first go over the essentials. The basic process for buying Bitcoin is the same regardless of which exchange you’re using and how much Bitcoin you’re buying. The process is done in 4 simple steps. Open an Account with an Exchange  Visit any exchange you want and set up an account on it. The process is similar to setting...
Read more

Core's Revolutionary Satoshi Plus Consensus Marries Decentralization, Security, and Scalability

Image
Singapore, Singapore, 30th March, 2023, Chainwire Core is a novel layer one blockchain that is pushing the boundaries within the crypto space. Inspired by Bitcoin and Ethereum, Core progresses beyond those blockchain behemoths by synthesizing each of their superpowers. A student of blockchain history, philosophy, and innovation, Core optimally balances decentralization, security, and scalability. Without Core’s advancements, crypto has been plagued by the “Blockchain Trilemma,” which states that decentralization, security, and scalability can never be achieved simultaneously. Tackling the Trilemma head-on, Core DAO contributors have designed a unique consensus mechanism known as Satoshi Plus, which marries the decentralization and security of Bitcoin’s Proof of Work (PoW) with the scalability of Delegated Proof of Stake (DPoS).  With Satoshi Plus consensus, both Bitcoin miners and CORE token holders can participate in network security by delegating their BT...
Read more