The popular quantitative analyst PlanB is updating his forecast on Bitcoin (BTC) after crypto kicked off the year with a strong rally.
PlanB tells his 1.8 million Twitter followers that the bottom has arrived for Bitcoin and predicts massive growth.
The analyst is best known for his stock-to-flow Bitcoin model, which predicts an asset’s value changes by comparing its current price to the rate at which its supply is generated.
PlanB said the model failed late last year when BTC plummeted below $16,000. However, he says the stock-to-flow model has remained intact and is showing a staggering price explosion to $1 million is now possible by the end of 2025.
He says the king crypto is heading toward the $32,000 price level leading up to next year’s halving event when supply will decrease. He predicts Bitcoin will cross the $100,000 price level in 2025 when he says it could climb to seven figures.
“BTC bottom is in, 2024 halving > $32,000, 2025 bull market > $100,000, scenario could look like this. Note the $100,000-$1,000,000 yellow range estimate for 2025.”
PlanB is also coming out against a group of analysts who are calling the early-year rally a bull trap. In a new strategy session video, he tells his 23,600 Youtube subscribers that the bull market has begun.
“We’re currently in the next bull run. The next bull run has started. This is not a bull trap, but a bull market.”
Bitcoin is trading for $23,593 at time of writing, down about 2.6% from its weekly high of $24,229.
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The post Bitcoin Explosion to $1,000,000 Is Now on the Table, Says Quant Analyst PlanB – Here’s His Latest Forecast appeared first on The Daily Hodl.
