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Bitcoin to Give 1,000%+ Returns in 2020-2024: Analyst Plan B

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Mon, 07/06/2020 - 13:36
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Yuri Molchan
Analyst and trader known as Plan B expects Bitcoin to show over 1,000% returns within the next four years. He also believes BTC will hit $190,000 in the near future
Bitcoin to Give 1,000%+ Returns in 2020-2024: Analyst Plan B
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Renowned analyst Plan B, who is also the creator of the stock-to-flow analysis, has taken to Twitter to summarize the results of his recent Bitcoin price poll and shared that he expects Bitcoin to show more years with over 1,000 percent profit, similar to 2011, 2013 and 2017.

Pessimistic BTC poll results

The analyst using the Twitter name Plan B, wishing to keep his real name private, has shared the results of a Twitter poll he kicked off on Sunday.

He believes the results to be slightly pessimistic as nearly half of the participants (43 percent) do not believe that Bitcoin will be able to break $55,000 by December next year.

About the same portion of people do not believe that the distribution of Bitcoin returns will remain as it is currently – asymmetric with a fat, positive tail.

Plan B mentioned that these people have classic linear thinking and are wrong.

BTC
Image via @100trillionUSD

‘We will see more 1000%+ return years’

While commenting on the results, the crypto expert shared his certainty that Bitcoin’s return distribution will remain asymmetric with a fat, positive tail, which means that there will be more years ahead with BTC showing 1,000%+ returns, similar to 2011, 2013 and 2017.

Related
This Trader Predicted Bitcoin Price at $1K by July. Now, He’s Turning Bullish

Bitcoin to soar to $190,000, but Josh Rager disagrees

In a later tweet, Plan B posted a Squawk Box video where Jeff Saut, a veteran market strategist at CNBC, predicts the S&P 500 Index to surge to $4,000 in the upcoming year.

Based on this, Plan B calculated that the Bitcoin price could likely hit $190,000.

However, another big-name crypto trader Josh Rager disagreed with this conclusion. He stated that the S&P 500 hitting $4,000 would be a 28-percent rise from its current value and, for Bitcoin, a surge to $190,000 would mean a surge of 1,950 percent.

The trader finds this highly unlikely in the near term.

BTC
Image via @Josh_Rager

However, Plan B insisted that this is what Bitcoin has been doing for the past ten years and posted two charts to back it up.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.