A rapid acceleration in Bitcoin’s pace of global adoption could catapult the top cryptocurrency to staggering new heights, according to quantitative analyst PlanB.
In a series of tweets, the pseudonymous strategist says the most powerful part of Bitcoin’s adoption s-curve is around the corner.
The adoption s-curve is often used to track the cumulative rate at which people adopt breakthrough technologies.
According to PlanB, BTC’s pace of adoption is about to witness an unprecedented level of acceleration that could bring its price to as high as $10 million by 2028.
“If Bitcoin adoption is now 1-5%, then we will enter the vertical of the S-curve next couple of years. On log scale (left) this just means more exponential growth until 50% adoption.
For the linear thinkers (right) everything will change. Bitcoin might be substantially undervalued…
Although I enjoyed Bitcoin adoption the last 10+ years (especially the investment returns), I am really looking forward to the vertical part of the S-curve in the next halving period (2024-2028).”
Plan B is well-known for applying the stock-to-flow scarcity model to Bitcoin (BTC), which divides the total supply of an asset by the new supply entering the market to forecast future moves in price.
Based on that model, PlanB predicts BTC’s next top will happen around 2025, with its price landing between $100,000 to $1,000,000.
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The post Bitcoin (BTC) Targeting $10,000,000 Amid Rapid Global Crypto Adoption, According to Quant Analyst PlanB appeared first on The Daily Hodl.
