Bitcoin has been volatile lately and yesterday’s 8 percent price drop has investors worried. However, the cryptocurrency has recovered from this decline. It’s currently on a roller coaster ride to a potential target of $29,000. Meanwhile, many crypto analysts are sharing their thoughts on Bitcoin’s next direction. One of the analysts who came up with BTC predictions was PlanB, behind the popular stock-to-flow (S2F) model. Here are the details…
PlanB announced Bitcoin: It will be rarer than Gold!
Famous crypto analyst PlanB recently posted a tweet on Twitter. He claimed that Bitcoin’s halving, which is expected to occur in 2024, will cause the S2F model rate to double. He also said that after the halving, Bitcoin will become more scarce. He even stated that gold could become rarer in the future. However, many people do not agree with this statement. Some say that Bitcoin does not work like other assets. Moreover, there are those who argue that the S2F model is useless for predicting Bitcoin prices. They believe that past predictions that turn out to be correct can only be coincidence.
However, in a tweet following the explanations, PlanB stated that the profits made by Bitcoin after the halving in 2012, 2016 and 2020 were not random events or coincidences. Instead, he explained that Bitcoin’s limited supply of 21 million coins is the result of fundamental factors such as a decrease in supply over time and a halving that happens every four years.
PlanB expressed his belief that these fundamental factors are the key determinants of Bitcoin’s price. Therefore, he believes that the S2F model can be used to predict Bitcoin prices in the future. PlanB thinks that after the 2024 halving, the price of Bitcoin will be around $ 60,000 according to the S2F model. Moreover, he predicts that Bitcoin will always rise after the halving, as it did in 2012, 2016 and 2020.
Best dates to buy and sell Bitcoin
In addition, PlanB recommends that investors buy Bitcoin six months before the halving. The analyst recommends that investors sell within 18 months of the halving. According to the analyst, this is a small trading tip called the “S2F trading rule”. This clue indicates that the price of Bitcoin will rise in the months leading up to the halving. It then relies on historical data and the S2F model that shows it will continue to rise for some time after the event.
As a result, while some people may disagree with PlanB’s predictions about Bitcoin’s future price and rarity, its insights and trading tips based on the S2F model can be useful to those who want to invest in Bitcoin or other cryptocurrencies. cryptocoin.com As we always point out, it is important to do research and consider various factors before making any investment decision.
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