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.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney