Bitcoin Gears Up For Skyrocketing Beyond $100,000

In a recent post that echoes his previous analysis, the renowned Stock-2-Flow (S2F) model creator, PlanB, highlighted a pivotal phase transition in the Bitcoin market. However, it may remain unrecognized by many.

Reflecting on his analysis from January of the previous year, PlanB recalled his declaration that the bear market phase had ended and an accumulation phase had commenced. Despite this, many at the time were still anticipating a fall to a Bitcoin price of $10,000.

Consequently, even as the analyst’s model signals a phase transition for Bitcoin, skepticism may still cloud the perception of many in the market.

Bitcoin Enters A Phase Transition, Poised For Rally

Despite the market movement, PlanB’s Bitcoin Market Cycle Model chart indicates that the flagship cryptocurrency has been in an accumulation stage. This critical period of consolidation began in early January last year, according to PlanB, aligning with the analyst’s earlier assertion that the bear market had concluded at that time.

The accumulation phase is typically marked by increased buying activity, often by long-term investors or ‘whales,’ laying the groundwork for future price surges.

PlanB’s analysis, shared earlier last year, suggests that Bitcoin had bottomed out in November 2022, with a low of $15,500. The analyst posits that the trajectory for Bitcoin is set for substantial growth leading up to the 2024 halving and the ensuing bull market in 2025.

PlanB forecasted in the post shared last January that Bitcoin’s value would trade above $32,000 post-halving and even reach or surpass the $100,000 mark in the bull market in 2025.

Bitcoin (BTC) price chart on TradingView.com
BTC price is moving sideways on the 1-hour chart. Source: BTC/USDT on TradingView.com

Further Surge Ahead

The bullish sentiment is further echoed by PlanB’s recent predictions, including a pre-halving surge, a rally following the approval of spot Bitcoin exchange-traded funds (ETFs), and a monumental peak anticipated in the coming years.

His YouTube video outlines a short-term forecast of Bitcoin soaring beyond $50,000 leading up to the April halving.

Peering into the future, the creator of the S2F model, PlanB, anticipates that BTC will surpass its previous highest value, potentially achieving a price point of $100,000 within the year. This forecast further gains credibility with the recent approval of spot Bitcoin ETFs in the United States by the US Securities and Exchange Commission (SEC).

PlanB’s long-term vision for Bitcoin is even more audacious, projecting a climb to $532,000 by 2025. This forecast is underpinned by the analyst’s Stock-to-Flow (S2F) model.

The model suggests a future where BTC transcends its current status to become a dominant digital store of value, potentially reshaping the traditional financial landscape.

Featured image from Unsplash, Chart from TradingView

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: https://www.newsbtc.com/bitcoin-news/planbs-market-cycle-analysis-bitcoin-gears-up-for-skyrocketing-beyond-100000/