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Bitcoin Prices from $ 288,000 to Next Halving

Overview:

  • Crypto Expert PlanB Predicts Bitcoin Price Rise
  • PlanB expects average prices of over $ 288,000
  • His S2F model showed the course of the leading cryptocurrency amazingly accurate ahead

After the Bitcoin (BTC) was caught in a constant downward spiral in recent weeks, the price corrected significantly upwards in recent days. The inventor of the famous stock-to-flow (S2F) model and crypto expert PlanB recently spoke bullishly about the long-term outlook of the BTC price. PlanB predicts an average price of $ 288,000 over the next 3 years. The much-quoted analyst with over half a million followers on Twitter reaffirmed his forecast with a corresponding price chart. In the past, the S2F was able to predict the course of bitcoin with incredible precision.

PlanB: Bitcoin faces price rally

The well-known analyst PlanB gained fame above all for his self-developed analysis model Stock to Flow. This model measures the inventory of a considered resource in a roughly simplified manner. The amount of a resource held in reserves is compared with the stock produced annually. As a result, you get an overview of how large the available supply is compared to the total supply on the market. PlanB was the first to apply the S2F model to Bitcoin and hit the bull’s eye with its analysis.

Currently, the BTC price is in an unclear situation. After the last few weeks have been characterized by a steady price decline, the price has been able to rise again in recent days. Especially the reports about the integration of Bitcoin as a state currency in El Salvador are considered as price drivers. If it goes according to PlanB, this should only be the beginning of a true Bitcoin rally. Thus, he states that he is “surprised”, should the Bitcoin not crack the mark of 100.000 US dollars already in this price cycle.

Bitcoin in 3 years at average prices around $ 288,000

Contrary to the current opinion that a negative price slide of the BTC price may soon be imminent, PlanB expects an increase in the price level. Many analysts on Twitter and other social media are currently not seeing particularly many signs that the price of the largest cryptocurrency by market capitalization could face a breakout to the top. In this context, Planbscloses in the same notch that, for example, advocates of the Myckoff model also hit. In the short term, price losses could actually threaten, but these could be compensated for by a price increase in the near future.

Of the aforementioned forecast, the crypto expert underlined with the words ” the $ 288,000 is still in it.”This alludes to the included price chart of his Stock to Flow Cross asset (S2FX). This so far surprisingly precise model indicates that the average prices could be at the mentioned 288.000 US dollars until the next halving. The S2FX is another variant of the S2F model, which includes other asset classes. The S2F model gives average rates of” only ” $ 100,000 for the period until the next halving.

PlanB also adds that the current price behavior is similar to that of 2013 and 2017. In those years, the Bitcoin reached a new record high each. The analyst, who often thinks long-term into the future, compared the respective price trends from the past and based on his S2F model gave an outlook until the next halving in April 2024.

PlanB Gets support – Bloomberg bullish like never before

Bloomberg is also sure that Bitcoin is facing a price rally. Chief analyst Mike Mcglone sees halving as the most important price driver. He described the steady halving of supply as an “ace up his sleeve” and it is in the nature of things that the price will rise dramatically. If the steady trend from the past is repeated in the future, the Bitcoin could actually face a price increase. As a result of a halving, the share price has always risen significantly in the following years.

Conclusion: PlanB and Bloomberg with bullish Bitcoin Forecast

PlanB successfully applied the stock-to-flow model to Bitcoin for the first time, causing a stir in the crypto world. His model has so far been able to predict the price of the oldest digital currency very reliably. And PlanB is also extremely optimistic about the time until the next halving. For example, it currently assumes average prices around $ 288,000.

Bloomberg also considers the halving of bitcoin to be the most important price driver. Mike Mcglone, chief analyst at Bloomberg, thinks quotes around $ 100,000 are likely. The forecast predicted by the S2F model is also at a similar price level.

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