‘Enjoy Bitcoin Under 40K’ — PlanB Emphasizes $100K Average BTC Price From 2024
Bitcoin (BTC) buyers should relish the opportunity to add to their stack below $40,000, says one of the crypto industry's household names.
In a post on Nov. 24 by X (formerly Twitter), PlanB, creator of the stock-to-flow family of BTC price models, hinted that the current levels would not be much.
PlanB: Time is at $40,000 resistance.
Planby believes that Bitcoin is set to go much higher from recent 18-month highs and now is the time to increase BTC exposure below $40,000.
Known for his optimistic long-term BTC price growth, Planby used perceived price data to support the bulls' case.
The guaranteed price is Bitcoin's guaranteed cap – the total price at which all BTC last moved – divided by the current supply. It is currently under $21,000.
Bitcoin bear markets are characterized by lows falling below perceived value, while bull markets begin when the position crosses two-year and five-month confirmed price levels. These indicate the value of coins that last moved in the last two years or in the last five months – “young” coins.
BTC/USD is now above all three price ranges.
“Enjoy bitcoin below $40k… while it lasts,” Planby commented on the accompanying chart.
When asked if the market should expect this low, Planby wasn't drawn, saying simply that he expects an average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin's next half-cycle.
Bitcoin hodlers bet on six figures
While Planby has criticized the stock-to-flow — and admitted that Bitcoin may not live up to expectations during the 2021 bull market — six-figure forecasts for the next cycle are more common.
Related: Bitcoin To $1M Post-ETF Approval? BTC price predictions vary greatly
According to Cointelegraph, these are gathering around $130,000 with a focus on the end of 2025.
In the year The half itself, due in April 2024, should return to $46,000, further analysis says.
Earlier this month, PlanB stated that Bitcoin is in a “pre-bull market” phase, the real start is yet to come.
IMO Bitcoin is currently in a pre-bull market (yellow) and on its way to a full bull market (red, after the previous halving without ETF approval).
Note I've changed the colors and platform names to better fit the S2F model: Pre-Bull Market Pre-Bull Market pic.twitter.com/tmayjteVWv
— PlanB (@100trillionUSD) November 19, 2023
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
