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PlanB Issues Epic Year-End Bitcoin (BTC) Price Prediction

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Mon, 10/06/2024 - 12:54
PlanB Issues Epic Year-End Bitcoin (BTC) Price Prediction
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PlanB, a renowned crypto analyst and creator of the stock-to-flow (S2F) model, has given his year-to-end predictions for Bitcoin's (BTC) price. The analyst's forecast covers five years, beginning from 2024 to 2028. 

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PlanB’s year-end Bitcoin price prediction

“My best guess Bitcoin scenario 2024-2028: 2024 (EOY): $0.15million, 2025: $0.8million, 2026: $0.4million, 2027: $0.3million, 2028: $0.4million,” noted PlanB. The analyst used the S2F model to compare Bitcoin’s trend with previous cycles, highlighting that it perfectly aligns with the S2F^3 power law model.

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From the analyst’s chart, Bitcoin is projected to reach $150,000 by the end of this year and $800,000 by 2025. Bitcoin reaching $800,000 by next year translates to an increase of more than 10 times its current price. PlanB acknowledged that this Bitcoin price prediction sounds unreal but claims 800K would be in line with the best fitting, highest R2, historical data model.

However, PlanB highlighted hacks, scams, defaults, forks and crackdowns as risks that could interfere with this bullish forecast for Bitcoin. Jeroen Blokland, founder of the Blokland Smart Multi-Asset Fund, commented that Bitcoin at $0.8 million means a market cap close to that of gold.  

Will PlanB’s prediction come to fruition?

Whether PlanB’s bullish price prediction for Bitcoin will hold true will be determined by several factors. First, investors' sentiment surrounding the leading digital asset would determine its future price movement. Price increases usually follow positive sentiment from the market. 

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As disclosed in an earlier U.Today report, PlanB says Bitcoin will continue to see accumulation from investors in 2024-2025. If this analogy continues, the analyst's Bitcoin prediction could come to pass. 

Another key factor that could push Bitcoin's price higher is increased adoption from institutional players through spot Bitcoin ETF products.

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