Bitcoin Analyst Predicts $100k Price by 2024
A well-known on-chain analyst, PlanB, is confident that Bitcoin (BTC) will reach a six-figure price this year. On a social media platform, the analyst shares his predictions for 2024, which he claims have remained unchanged since late 2022, during the bear market.
One of PlanB’s forecasts is that Bitcoin will hit $100k in 2024. He applies his own version of the stock-to-flow (S2F) model to Bitcoin, which suggests that BTC could approach half a million dollars in the next few years, possibly by 2025.
In 2021, PlanB’s price predictions for Bitcoin turned out to be higher than its actual peak. However, he believes that over time, the general forecasts of the S2F models will prove accurate and Bitcoin will see much higher prices in the coming years.
Bitcoin Trading at $45k
As of now, Bitcoin is trading at around $45,110, reflecting a 169% increase over the past year.
Hot Take: PlanB Remains Bullish on Bitcoin’s Future
PlanB continues to hold a bullish outlook on Bitcoin’s future price performance. Despite potential overshoots in his previous price models, he maintains confidence in the accuracy of S2F models and expects Bitcoin to achieve significant price milestones in the years ahead. With Bitcoin already experiencing fresh rallies at the start of this year, hitting $100k by 2024 seems within reach according to PlanB’s analysis.
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