Popular bitcoin Cryptocurrency analyst PlanB, known for his price prediction chart model “Stock-to-Flow”, recently sent a message to his 1.8 million Twitter followers to be patient. shared. The famous analyst’s chart model suggests that Bitcoin could reach $100,000 this year and potentially skyrocket to $1,000,000 by 2024 or 2025.
Crypto market has witnessed significant volatility since the beginning of 2023, which has discouraged many investors. In light of this, PlanB’s call for patience is no surprise. Despite Bitcoin’s current price of $26,450 reflecting a 0.7% increase in the last 24 hours and a 1.7% drop over the past week, the cryptocurrency is still far from the projected $100,000 mark.
Patience #Bitcoin pic.twitter.com/BiDYjluVC9
— PlanB (@100trillionUSD) May 25, 2023
NEWS CONTINUES BELOW
PlanB’s tweet, accompanied by the familiar “Stock-to-Flow” chart pattern, reminds investors that Bitcoin’s rally can be delayed but not invalidated. The analyst suggests that Bitcoin’s resurgence and a potential rise to $100,000 could happen as early as 2024, coinciding with the planned Bitcoin halving event.
Although current market conditions do not match PlanB’s forecasts, the analyst continues to rely on his model. Some investors remain hopeful. Bitcoin’s notorious price fluctuations have tested the patience of many throughout its existence. However, it is important to note that the cryptocurrency has proven its ability to bounce back from significant dips in the past.
The “Stock-to-Flow” model used by PlanB calculates the scarcity of Bitcoin by comparing its current supply (stock) with the annual new supply (flow). This approach has gained a significant following within the crypto community and has been recognized as a reliable predictor of Bitcoin’s future price movements.
Despite short-term setbacks, Bitcoin has experienced remarkable growth since its inception. Its increasing adoption by mainstream institutions, regulatory developments, and the overall maturation of the cryptocurrency ecosystem have brought Bitcoin to the fore as a viable long-term investment option.
While skeptics question the validity of PlanB’s predictions, the unpredictability of the cryptocurrency market is something everyone knows. Bitcoin’s track record has demonstrated its capacity to surprise both skeptics and enthusiasts. That’s why it’s so important to approach any prediction, no matter how promising, with a sane perspective and a degree of skepticism.
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