Bitcoin (BTC) buyers should “enjoy” the opportunity to purchase Bitcoin for under $40,000, according to a household cryptocurrency figure.
in a postal On November 24, PlanB, the creator of the Stock-to-Flow series of BTC price models, hinted on X (formerly Twitter) that current levels would not last long.
PlanB: Time is ticking at $40,000 resistance
PlanB believes that the price of Bitcoin is destined to be well above the recent 18-month high, and that the time to increase BTC exposure below $40,000 is running out.
PlanB is known for its optimistic view on Bitcoin’s long-term price growth, this time using realized price data to support the bulls’ view.
The realized price is Bitcoin’s realized cap (the total price of all BTC last moved) divided by the current supply. The current price is just under $21,000.
Bitcoin bear market bottoms are characterized by spot prices being lower than actual prices, while bull markets begin once spot prices break through two- and five-month actual price levels. These are the realized prices of the tokens that last moved within the last two years or five months – the “young” tokens.
BTC/USD is now once again trading above all three realized price iterations.
“Enjoy Bitcoin under $40,000…while it lasts,” PlanB commented on the accompanying chart.
When asked if the market should expect prices to go lower from here, PlanB didn’t have an answer, stating that he just expected the average price of BTC to be At least US$100,000 2024 to 2028 – Bitcoin’s next halving cycle.
Bitcoin holders place six-figure bets
Although PlanB criticized Stock-to-Flow and admitted that Bitcoin failed to live up to his expectations during the 2021 bull run, six-figure predictions for the next cycle are increasingly common.
RELATED: Bitcoin Hits $1M After ETF Approval?Bitcoin Price Predictions Vary Hugely
According to Cointelegraph, these funds will be concentrated in the $130,000 area as a focus by the end of 2025.
At the same time, further analysis said that the halving will expire in April 2024, and the return should reach about $46,000.
Earlier this month, PlanB described Bitcoin as being in a “pre-bull run” phase, with the real launch yet to come.
IMO Bitcoin is currently in a pre-bull market (yellow) and is on track to head into a full-blown bull market (red, post-halving unless ETF approval is obtained in advance).
Note that I changed the colors and stage name again to better align with the S2F model:
before bull market
bull market
pre-bear
bear market pic.twitter.com/tmayjteVWv— PlanB (@$100T) November 19, 2023
This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should do their own research when making decisions.
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