PlanB is back and he just dropped TWO mega bullish Bitcoin predictions.
For those of you who don’t know PlanB, he is arguably the most famous on-chain Bitcoin analyst.
With over 1.9 million followers on Twitter, he is most well known for his Stock-to-Flow model and spookily accurate price predictions.
Let’s break down some of the highlights from his latest market update.
Bitcoin to hit $500,000 by next year.
PlanB’s first prediction is based on his famous stock-to-flow model.
Last cycle, the model called for a $50,000 Bitcoin (which happened, obviously)
This cycle, the model is predicting Bitcoin will hit $500,000.
And the cycle after that, we can expect to hit $4,000,000.
Here’s how PlanB explains it:
“The price of Bitcoin shows a little bit of a lag, but eventually it catches up with the model value. And that is exactly what happened the last three halvings and what I expect will be happening next year.”
Bitcoin Will Never Drop Below This Price Ever Again
This next prediction is based on Bitcoin’s realized price.
Realized price is the value of all Bitcoins at the price they were last moved divided by the circulating supply.
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🔴 Bitcoin’s current price: $71,000
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⚫️ Realized price: $30,000
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🔵 2-year realized price: $47,000
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(cyan) 5-month realized price: $64,000 During a bull market, Bitcoin’s price is above all of these realized price variations.
Here’s the crazy part though.
Bitcoin’s 5-month realized price acts as a support level for bull market dips.
Meaning bull market dips will often touch this line but never break through it.
“To make an aggressive prediction… I don’t think we will see Bitcoin below $64,000 again.”
Keep in mind, when PlanB makes predictions like these, he’s talking about Bitcoin’s monthly close price.
Those are definitely some bullish predictions…
Will Bitcoin hit $500,000 this cycle?