According to PlanB, Bitcoin is expected to climb to $100,000 by the end of this year following the halving event. Looking ahead, PlanB predicts even more significant growth, with Bitcoin potentially reaching $300,000 by the year 2025.
Despite the prevailing sentiment in the crypto community, PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, holds a different perspective on the upcoming halving event. Contrary to popular belief, PlanB believes that this halving will follow the pattern of previous events, with Bitcoin’s price expected to rise in line with the halving.
Bitcoin Halving Raises Uncertainty Amidst All-Time Highs
In recent weeks, various analysts and members of the crypto community have voiced uncertainty regarding the impact of the upcoming Bitcoin halving event on its value. This uncertainty arises from Bitcoin reaching an all-time high about a month before the halving.
Typically, in previous cycles, Bitcoin’s all-time highs occur after the halving event, as the reduction in block rewards slows down BTC supply and production. However, the recent surge in demand for United States spot Bitcoin exchange-traded funds (ETFs) launched in January propelled BTC past its previous high of $69,000 to a new peak of $73,700 in mid-March.
The question now looms over how much BTC will rally post-halving and whether its gains will be as substantial as in previous events.
Despite the uncertainty, PlanB remains steadfast in his prediction for Bitcoin’s price trajectory. He insists that the cryptocurrency will surge to $100,000 this year after the halving, with projections of reaching $300,000 by 2025. Notably, a poll conducted by PlanB on X last month revealed that 71.9% of participants share his bullish outlook, expecting BTC to hit $100,000 in 2024.
PlanB’s Bold Claims on Bitcoin Price Performance
To bolster his assertions that all price increases will occur around the halving event, PlanB elaborated that purchasing BTC six months before the event and selling the assets 18 months afterward would outperform simply buying and holding the cryptocurrency. According to PlanB’s analysis, traders stand to make more gains if they sell their holdings approximately a year after the halving event.
In response to a comment regarding BTC outperforming gold in the current bull cycle, the creator of the Stock-to-Flow (S2F) model stated that the crypto asset would surpass gold because it would become twice as scarce as the precious metal. This prediction coincides with that of crypto exchange Bybit, which indicated that Bitcoin’s S2F ratio would double to 112 post-halving, while gold’s S2F ratio would remain at 60.
Furthermore, PlanB reiterated that his $300,000 prediction for BTC’s peak is at the lower end of the estimated $250,000 to $1,000,000 range. The veracity of these predictions, particularly whether BTC will reach even higher levels, remains to be seen.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
