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Future

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/planb-bitcoin-prediction-may-2024-analyst-sets-btc-target-to-100000-by-year-end/">PlanB Bitcoin Prediction May 2024: Analyst Sets BTC Target to $100,000 by Year-End</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>This is something that’s bound to interest you! A noteworthy prediction has emerged from the creator of the widely used Stock-2-Flow (S2F) model. PlanB, known for accurate market calls, confidently declares that Bitcoin’s value is on the brink of a significant surge, emphasizing that it will likely reach $100,000 in 2024.</p> 
<p>The post-halving market is still choppy, But PlanB believes this will boost <a href="https://coinpedia.org/news/crypto-market-turn-bearish-as-sell-in-may-and-go-away-got-real-bitcoin-to-fall-near-47k/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> to new highs. Based on on-chain data and the RSI indicator, it seems we’re in a solid position, with $60,000 serving as a robust support level.</p> 
<p>Here’s what he has to say.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-to-hit-new-ath-in-may-planb-weighs-in"><strong>Bitcoin to Hit New ATH in May? PlanB Weighs In</strong></h2> 
<p>PlanB supports his <a href="https://www.youtube.com/watch?v=67eetLooEQc">prediction </a>with in-depth analysis, tying Bitcoin’s value to its Stock-to-Flow model. The Stock-to-Flow model is a widely followed model that correlates Bitcoin’s scarcity with its price. Despite Bitcoin closing the month slightly below $60,000, he notes that it is still up 36% year-to-date. He emphasizes the significance of the current month being the last “Blue Dot” before the next halving, indicating that historically, Bitcoin’s price has been in line with the Stock-to-Flow model at this point in the halving cycle. The analyst also highlights that while the average Bitcoin price is currently below the original prediction of $55,000, it is still within the same order of magnitude.</p> 
<h2 class="wp-block-heading" id="h-planb-s-prediction-for-2024"><strong>PlanB’s Prediction for 2024</strong></h2> 
<p>Drawing on the Stock-to-Flow (S2F) model, PlanB suggests that Bitcoin’s price could soar to unprecedented levels, surpassing $100,000 and reaching as high as $500,000 by 2028. This forecast is based on the need for mining revenue to recover within four to eight months after halving. With a price of $60,000, he believes $100,000 is achievable this year.</p> 
<h2 class="wp-block-heading" id="h-planb-s-prediction-for-2025"><strong>PlanB’s Prediction for 2025</strong></h2> 
<p>PlanB predicts a bull market peak in 2025. He examines decreasing returns and whether Bitcoin’s price will rise gradually or exponentially. Despite disagreements, PlanB believes the Stock-to-Flow model is accurate and suggests exponential returns, especially given Bitcoin’s low adoption rate.</p> 
<h2 class="wp-block-heading" id="h-other-bullish-indicators"><strong>Other Bullish Indicators</strong></h2> 
<p>In addition to the Stock-to-Flow model, PlanB examines other technical indicators such as the Relative Strength Index (RSI) and the 200-week moving average. The Relative Strength Index (RSI) has normalized, dropping from a high of 77 to 66 from previous halvings it suggests room for further price increases, particularly as the blue dots transition to red in the coming months. The 200-week moving average remains a conservative floor, indicating potential support levels in bull markets.</p> 
<h2 class="wp-block-heading" id="h-future-call"><strong>Future Call?</strong></h2> 
<p>Despite short-term volatility with possible 20-30% dips, analysts like PlanB emphasize patience and a long-term perspective for investors, suggesting that the peak may not materialize until 2025.</p> 
<p>In Short, the stage is set, the players are poised, and Bitcoin’s trajectory seems poised for an exhilarating journey ahead. We’re excited. Are you?</p> 
<p>Also Check Out : <a href="https://coinpedia.org/news/top-reasons-why-bitcoin-is-dumping-what-next-for-btc-price/">Why Are Investors Dumping Bitcoin? Here’s What’s Next for BTC Price</a></p>

PlanB Bitcoin Prediction May 2024: Analyst Sets BTC Target to $100,000 by Year-End

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