Top analyst PlanB is back with a spectacular Bitcoin forecast, explained in an interview: Bitcoin will explode to at least $100,000 and could even reach $1 million – there is “no doubt” about it. Trigger: The next bitcoin halving – in 2024. Should you buy bitcoin now?
Will bitcoin rise again?
Bitcoin has been in trouble for months, the whole industry feels under pressure – but according to “PlanB”, one of the most well-known and popular Bitcoin analysts, the bearish times will soon be over.
In a new interview with top trader Scott Melker (“The Wolf Of All Streets”), the Dutchman shows his particularly bullish side – and gives more than optimistic price targets for BTC.
PlanB is certain: Bitcoin will soon explode to prices between $100,000 and $1 million. Given the ongoing bear market, this seems very high. But what you need to consider: Bitcoin is about to be halved again.
This is an automatic process that halves the amount of new bitcoins issued (hence the halving). The halving event takes place approximately every four years and is generally considered to be the strongest driver of Bitcoin price.
For comparison, the last halving was in 2020 – and about a year and a half later, Bitcoin reached its previous all-time high of $68,789 (data from Coinmarketcap.com).
Many analysts expect the upcoming halving to also have a strong impact on the price of Bitcoin – as always, however, with a lag of about a year and a half. And this is where the Bitcoin Stock to Flow (S2F) price prediction model invented by PlanB comes in.
S2F sees BTC explode to record prices
The S2F model relates the price of Bitcoin to the rate at which its supply is mined. Simply put, the scarcer bitcoin gets, the higher the price goes. And that’s exactly what the halving creates.
PlanB is therefore certain: the next halving could result in prices “between $100,000 and $1 million”. Top analyst points out: BTC will reach these prices unless its forecasting model proves invalid or Bitcoin dies. His conclusion:
“I have no doubt that we will hit the $100,000 to $1 million range and no matter how you look at it, the current price is a steal if you believe it. So yeah, I’m very optimistic.”
Bitcoin is currently trading at $17,215 after gaining 2.29% in the past 24 hours, well above yesterday’s lows of $16,812.
You can find PlanB’s full interview with Scott Melker here.
IMPT Token: Record Presale Ends – Still Enter Now?
Predictions suggest that prices will explode in the near future for IMPT Token, a new eco-friendly cryptocurrency:
Background: IMPT Token is currently still in presale, but will end it in the next few days. The project was able to raise over $16.5 million from interested investors – this illustrates the immense demand. IMPT Token is now entering the open market and will be listed on leading crypto exchanges – initially on LBank and Changelly, with seven more to follow in the coming weeks, according to CEO Denis Creighton. So if you still want to get the IMPT token at the presale price, you need to hurry – 11.12. is the due date!
Here for the IMPT presale