In a recent post that echoes his previous analysis, the renowned Stock-2-Flow (S2F) model creator, PlanB, highlighted a pivotal phase transition in the Bitcoin market. However, it may remain unrecognized by many. Reflecting on his analysis from January of the previous year, PlanB recalled his declaration that the bear market phase had ended and an accumulation phase had commenced. Despite this, many at the time were still anticipating a fall to a Bitcoin price of $10,000. Consequently, even as the analyst’s model signals a phase transition for Bitcoin, skepticism may still cloud the perception of many in the market. Bitcoin Enters A Phase Transition, Poised For Rally Despite the market movement, PlanB’s Bitcoin Market Cycle Model chart indicates that the flagship cryptocurrency has been in an accumulation stage. This critical period of consolidation began in early January last year, according to PlanB, aligning with the analyst’s earlier assertion that the bear market had concluded at that time. Related Reading: How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader The accumulation phase is typically marked by increased buying activity, often by long-term investors or ‘whales,’ laying the groundwork for future price surges. PlanB’s analysis, shared earlier last year, suggests that Bitcoin had bottomed out in November 2022, with a low of $15,500. The analyst posits that the trajectory for Bitcoin is set for substantial growth leading up to the 2024 halving and the ensuing bull market in 2025. The best thing about this bitcoin market cycle model is that only a few will believe it when it detects a phase transition. For example, when I tweeted on Jan 12 that the bear market (green) was over and the accumulation phase (blue) had begun, many were still calling for 10k. https://t.co/V74Y8VYCVo pic.twitter.com/l2uuFaVr14 — PlanB (@100trillionUSD) January 16, 2024 PlanB forecasted in the post shared last January that Bitcoin’s value would trade above $32,000 post-halving and even reach or surpass the $100,000 mark in the bull market in 2025. Further Surge Ahead The bullish sentiment is further echoed by PlanB’s recent predictions, including a pre-halving surge, a rally following the approval of spot Bitcoin exchange-traded funds (ETFs), and a monumental peak anticipated in the coming years. His YouTube video outlines a short-term forecast of Bitcoin soaring beyond $50,000 leading up to the April halving. Peering into the future, the creator of the S2F model, PlanB, anticipates that BTC will surpass its previous highest value, potentially achieving a price point of $100,000 within the year. This forecast further gains credibility with the recent approval of spot Bitcoin ETFs in the United States by the US Securities and Exchange Commission (SEC). Related Reading: PlanB’s Triple Bitcoin Forecast: A Pre-Halving Surge, Post-ETF Rally, And Monumental Peak Ahead PlanB’s long-term vision for Bitcoin is even more audacious, projecting a climb to $532,000 by 2025. This forecast is underpinned by the analyst’s Stock-to-Flow (S2F) model. I expect $55k bitcoin at halving, $100k in 2024, $532k in 2025:https://t.co/TSo7TpNfzb pic.twitter.com/mQaXM5Qabb — PlanB (@100trillionUSD) January 10, 2024 The model suggests a future where BTC transcends its current status to become a dominant digital store of value, potentially reshaping the traditional financial landscape. Featured image from Unsplash, Chart from TradingView
Pi Coin Price Prediction For March 10
