Top Analyst Predicts When Bitcoin (BTC) Price Will Hit $100,000
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 following the halving event in 2024.
Bitcoin Is Heading to $100,000
The S2F model is a valuation method that can predict the price of Bitcoin by considering its scarcity. It is based on the relationship between the existing supply of an asset and the rate of production or inflows.
In the context of Bitcoin, the “stock” represents the total number of BTC currently in circulation. Meanwhile, the “flow” refers to the rate at which new BTC are 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 amidst the collapse of the crypto exchange FTX.
The analyst believes that Bitcoin’s attainment of the $32,000 level in the near future will confirm the possibility of reaching $60,000 in anticipation of the 2024 halving event.
PlanB asserts that the breakthrough of the $100,000 level will happen in 2025 after the halving.
Unfortunately, PlanB’s prediction history has shown that the analyst is not always accurate.
For instance, 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 his prediction, which drew a wave of criticism from the crypto community.
Previously, the editorial team at BeInCrypto analyzed PlanB’s publications. The conclusion is that the majority of the S2F model author’s predictions do not come to fruition.
As a reminder, experts previously shared their thoughts on how much Bitcoin could be worth after the 2024 halving event.
Disclaimer
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.
