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Bitcoin has been projected to reach an extraordinary $5 million in value given the current trajectory of upcoming halving events and other market sentiments. Renowned analyst PlanB recently took to X to unveil his striking price predictions for Bitcoin, based on his widely-followed Stock-to-Flow (S2F) model.
According to PlanB's projections, the upcoming halving cycles are poised to usher in unprecedented price surges for Bitcoin. In the 2020-2024 halving cycle, PlanB anticipates Bitcoin's price to hover around $50,000.
Looking ahead to the 2024-2028 halving cycle, he foresees Bitcoin soaring to an astonishing $500,000. Meanwhile, in the subsequent 2028-2032 halving cycle, PlanB envisions Bitcoin's price skyrocketing to an extraordinary $5 million.
Stock-to-Flow model and Bitcoin's future
The Stock-to-Flow model, which evaluates the relationship between an asset's scarcity (stock) and its production rate (flow), forms the basis of these audacious predictions. PlanB asserts that the S2F model indicates exponential growth for Bitcoin, a trend he believes will persist in the foreseeable future.
In 2022, Vitalik Buterin, the Russian-Canadian co-founder of Ethereum, criticized the Stock-to-Flow model, which gained traction on Crypto Twitter regarding Bitcoin, due to an analysis by pseudonymous analyst PlanB based in the Netherlands.
However, PlanB's projections have garnered significant attention within the cryptocurrency community, with many eagerly wondering whether Bitcoin will indeed follow this trajectory of exponential growth.
As Bitcoin continues to captivate investors and enthusiasts worldwide, PlanB's bold predictions serve as a convincing account, fueling discussions about the digital asset's long-term potential and the dynamics of its market cycles. However, given market volatility and unpredictability, stakeholders are watching with interest.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
