PlanB, the founder of the stock-to-flow (S2F) model, Bitcoin He stated that the price will fluctuate significantly. The analyst thinks $100,000 levels are possible for the remainder of 2024.
As we reported as Koinfinans.com, the price is currently fluctuating after the halving that took place the other day. However, this fluctuation was not upward as expected. PlanB’s expectation is that $60,000 will turn into a strong support depending on the RSI show.
Using a stock-to-flow model, PlanB argues that Bitcoin’s scarcity will directly affect its price. Although the price is currently below $60,000, it is up 35% year-on-year. On the other hand, although the average purchase is below $55,000, the overall outlook is still optimistic.
PlanBIn the continuation of ‘s analysis, there are ambitious levels such as 100,000 dollars for 2024 and 500,000 dollars for 2028. The forecast is based on the need for mining revenue to recover within four to eight months after halving.
PlanB predicts that the bull market will reach its peak in 2025. It examines diminishing returns and whether the Bitcoin price will increase gradually or exponentially. Despite the disagreements, PlanB believes the Stock-to-Flow model is correct and suggests exponential returns, especially given BTC’s low adoption rate.
In addition to the Stock-to-Flow model, PlanB also 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 77 to 66, indicating there is room for further price gains, especially as the blue dots turn red in the coming months. The 200-week moving average remains a conservative base that indicates potential support levels in bull markets.
