2024

Bitcoin

Million

Spot

PlanB, a popular name within the Bitcoin community, thanks to his Stock-to-Flow (S2F) model, has <a href="https://twitter.com/100trillionUSD/status/1769681310296035783?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">shared</a> the latest discourse on X,&nbsp;igniting a flurry of excitement and speculation. This discourse particularly highlights BTC’s potential journey through successive <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-sentiment-cools-price-rebound-soon/" target="_blank" rel="noopener ">halving cycles</a>. 
PlanB’s analysis, deeply rooted in the S2F model, presents a narrative for Bitcoin’s future. This model scrutinizes the correlation between an asset’s existing reserves (stock) and annual production (flow) and lays the groundwork for <a href="https://www.newsbtc.com/bitcoin-news/planbs-market-cycle-analysis-bitcoin-gears-up-for-skyrocketing-beyond-100000/" target="_blank" rel="noopener ">PlanB’s bold predictions</a>. 
<h2 id="navigating-through-predictions-a-community-aweigh">Navigating Through Predictions: A Community Aweigh</h2> 
According to the model, the forthcoming halving cycle spanning 2020-2024 is expected to solidify Bitcoin’s price at around $50,000. But the real spectacle unfolds in the ensuing cycles, with<a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-hits-support-65k/" target="_blank" rel="noopener "> projections</a> setting the stage for Bitcoin to ascend to $500,000 in the 2024-2028 cycle, eventually reaching a monumental $5 million in the 2028-2032 cycle. 
<blockquote class="twitter-tweet"> 
 Stock-to-Flow 2020-2024 halving cycle: ~$50k Stock-to-Flow 2024-2028 halving cycle: ~$500k Stock-to-Flow 2028-2032 halving cycle: ~$5m Yes, S2F = exponential growth, and it will continue IMO. <a href="https://t.co/rH1KmIyKSl" target="_blank" rel="noopener nofollow">pic.twitter.com/rH1KmIyKSl</a> 
 — PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1769681310296035783?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">March 18, 2024</a>
</blockquote> 
The predictions made by PlanB have sparked interest and debate among the crypto community. Many are curious to see if Bitcoin will experience the forecasted substantial growth. 
An X user responded to PlanB’s post, expressing hopefulness yet advising caution due to the limited number of data points that can’t definitively predict precise future prices, like an average of $500k from 2024 to 2028. 
PlanB acknowledged this caution, pointing out that his predictions are based on three past halving events and the significant pre-halving period, suggesting that while the Stock-to-Flow model can guide the general trend, its accuracy comes with a considerable margin of error. 
For instance, while the 2020-2024 period was projected to see an average of $55k, the actual figure was around $33k. 
<blockquote class="twitter-tweet"> 
 Very true. Only 3 halvings (2012, 2016 and 2020) plus the crucial pre-halving period (where BTC S2F grew from below 1 to ~4). And S2F is only for general direction, of course, and with wide error margin (for example: prediction 2020-2024 was 55k but in reality ~33k). 
 — PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1769684174137405648?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">March 18, 2024</a>
</blockquote> 
Additionally, another user in the conversation, known as Phoenix of Crypto, <a href="https://x.com/PhoenixBTC7/status/1769688309456912892?s=20" target="_blank" rel="noopener nofollow">remarked</a> that while PlanB’s projection might seem “overly optimistic,” the true outcome remains to be seen, emphasizing the need for patience. 
This user highlighted the uncertainty surrounding <a href="https://www.newsbtc.com/bitcoin-news/planbs-triple-bitcoin-forecast-a-pre-halving-surge/" target="_blank" rel="noopener ">Bitcoin’s future</a>, especially considering the potential impacts of ETFs and widespread adoption, signaling an open-minded but watchful approach to market developments. 
<h2 id="bitcoin-latest-price-action">Bitcoin Latest Price Action</h2> 
Bitcoin is undergoing a notable decline, having decreased by 7.5% over the last week. This downward trajectory has extended into the last 24 hours, with the cryptocurrency dropping an additional 1.5%. Despite these setbacks, Bitcoin’s trading price remains at $67,167 at the time of writing. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/suXhBHcQ/" alt="Bitcoin (BTC) price chart on TradingView" width="2770" height="1556"> 
Skew, a renowned trader, has provided technical analysis indicating a<a href="https://twitter.com/100trillionUSD/status/1769681310296035783?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow"> critical support range for Bitcoin investors</a> between $60,000 and $67,000. 
This range is seen as a possible pivot point for the market’s direction, concurrently noting the substantial selling activity on leading platforms such as Coinbase and Binance. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$BTC</a> Spot Market Data Thread, in partnership <a href="https://twitter.com/_WOO_X?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@_WOO_X</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$BTC</a> Binance Spot Weekend spot buyer here 
 Spot Supply ($72K – $74K) Spot Demand ($60K) 
 Interestingly last bounce which was sold into also resulted in a stack of limit bids being quoted lower. ~ Keep an eye on those bids… <a href="https://t.co/3PKHyddNlv" target="_blank" rel="noopener nofollow">pic.twitter.com/3PKHyddNlv</a> 
 — Skew Δ (@52kskew) <a href="https://twitter.com/52kskew/status/1769187774639591825?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">March 17, 2024</a>
</blockquote> 
Featured image from Unsplash, Chart from TradingView

PlanB’s Bitcoin Forecast: A Journey To $5 Million Per BTC In The Next Decade

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