Seize the Opportunity: PlanB Urges Bitcoin Buyers to Invest While It's Below $40,000
Summary:
Prominent cryptocurrency figure PlanB urges Bitcoin investors to take advantage of its current value under $40,000, suggesting it won't last long. Predicting a minimum average BTC price of $100,000 between 2024 and 2028, he believes Bitcoin is still in a "pre-bull market" phase. Despite criticism over previous predictions, optimism for Bitcoin's value in the next cycle remains high among analysts.
Prominent crypto figure, PlanB, suggests that Bitcoin investors should seize the opportunity to increase their holdings while the cryptocurrency is still trading below $40,000. In a recent post, PlanB, who is the developer of the Stock-to-Flow BTC pricing models, suggested that these prices won't linger for long. He strongly believes that Bitcoin is on a trajectory that will surpass its latest 18-month high figures.
When discussing the prospect of Bitcoin's growth, PlanB is known for his positive outlook. He now uses realized price data, which refers to Bitcoin's total value when it was last circulated divided by the current supply value; this currently hovers just below $21,000.
Bitcoin's low market values are often marked by a spot price that’s lower than the realized price. On the other hand, bull markets typically kick off when the spot price surpasses the realized price levels over the past two years and five months, often termed as the realized price for 'younger' coins. Currently, Bitcoin's spot price exceeds all three iterations of the realized price.
In reference to a relevant chart, PlanB even urged others to "enjoy sub-$40k bitcoin... while it lasts."
He was elusive when asked about anticipating a further drop in Bitcoin's value. Rather, he predicted a minimum average BTC price of at least $100,000 between 2024 and 2028, which coincides with Bitcoin's next halving phase.
PlanB, who had earlier been challenged over his Stock-to-Flow pricing model – especially when Bitcoin couldn't meet his expectations in its 2021 bull market – has high expectations for the cryptocurrency in the next cycle. Several analysts also share similar upbeat predictions.
Reported by Cointelegraph, these analyses converge on a focus of $130,000 by the end of 2025. The forthcoming halving in April 2024, to add, should take Bitcoin's value back to approximately $46,000, according to further analysis.
Earlier, PlanB expressed that Bitcoin is presently in a "pre-bull market" phase with its noteworthy upswing yet to occur.
Note: This article does not provide any financial advice or investment recommendations. Every investment decision comes with varying levels of risk. Hence, readers are urged to conduct individual research before finalizing a decision.
Published At
11/24/2023 3:31:04 PM
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