PlanB, a renowned pseudonymous analyst known for creating the Stock-to-Flow model, has predicted a significant surge in the value of Bitcoin in 2024.
This prediction is based on the upcoming halving of the cryptocurrency, which is the process of reducing the reward for mining a block by miners.
Historical data indicates that after a halving event, Bitcoin experiences a steady rise in price, eventually reaching new heights.
According to PlanB, the BTC rate could potentially soar by up to 1800% following the next halving.
The accuracy of PlanB’s predictions has been supported by the performance of the S2F model.
Before the halving, PlanB anticipates Bitcoin to hit $32,000, then $60,000, and ultimately a minimum of $100,000.
The maximum rate could even reach $1 million, but the average value after the halving is expected to be around $542,000.
PlanB firmly believes in the S2F model and notes that the behavior of the cryptocurrency market has consistently aligned with the model’s predictions, making critics of the model’s untenable.
Last year, PlanB claimed that Bitcoin was gearing up for a significant increase, and his recent projections continue to support this sentiment.