PlanB, the creator of the stock-to-flow family of BTC price models, recently suggested that Bitcoin (BTC) buyers should take advantage of the opportunity to add to their stack while the prices remain below $40,000.
The crypto industry figure made the suggestion in a post on X (formerly Twitter) on Nov. 24, implying that the current levels may not be around for long.
PlanB: Time is ticking on $40,000 resistance
PlanB believes that Bitcoin is likely to go much higher than its most recent 18-month highs and that the time to increase BTC exposure below $40,000 is running out.
The analyst, who is well-known for his optimistic outlook on long-term BTC price growth, used realized price data to back up his bullish predictions. Realized price is the total price of all BTC that has moved recently, divided by the current supply, and is currently at around $21,000.
Bull markets start once the spot price is higher than the two-year and five-month realized price levels. These refer to the realized price of coins that have moved in the last two years or the last five months. At the moment, BTC/USD is above all three realized price iterations.
PlanB commented on an accompanying chart: “Enjoy sub-$40k bitcoin … while it lasts.” When asked whether the market should expect lower levels from here, PlanB declined to comment, but said that he anticipates an average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin’s next halving cycle.
Bitcoin hodlers bet on six figures
Despite criticism of PlanB’s stock-to-flow model, six-figure predictions for the next Bitcoin cycle are becoming more commonplace. As Cointelegraph reported, these estimates are centered around a $130,000 target by the end of 2025. The halving event in April 2024 is expected to bring the price back up to around $46,000.
Recently, PlanB mentioned that Bitcoin is in a “pre-bull market” phase, and the real surge is yet to come.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments