Contrary to the general belief circulating in the crypto community, Bitcoin Stock-to-Flow (S2F) model creator and analyst PlanB thinks this halving will not be different from previous events.
According to a tweet, PlanB insists that Bitcoin’s price increases will again be around the halving.
Over the past weeks, several analysts and members of the crypto community have expressed uncertainty about the effect the upcoming halving event would have on Bitcoin (BTC) and its value. This uncertainty stems from BTC reaching an all-time high a month before the halving.
In previous cycles, Bitcoin’s all-time highs usually come after the halving as BTC supply and production rate slows down due to the event slashing miners block rewards by 50%. However, high demand for the United States spot Bitcoin exchange-traded funds (ETFs) launched in January pushed BTC past its November 2021 high of $69,000 to a new peak of $73,700 in mid-March.
At this point, it remains unclear how much BTC will rally after the halving and if the asset’s gains will be substantial compared to previous events.
PlanB has remained adamant in his stance about Bitcoin’s price trajectory and insists that the cryptocurrency will surge to $100,000 this year after halving, topping $300,000 in 2025. It appears his followers share the same view as a poll he released on X late last month disclosed 71.9% of the participants expect BTC to hit $100,000 in 2024.
To strengthen his claims that all price increases will take place around the halving, PlanB explained that buying BTC six months before the event and selling the assets 18 months after will outperform buying and holding the cryptocurrency. Traders are likely to make more gains if they sell their holdings a year after the halving, per PlanB’s analysis.
Responding to a comment on BTC outperforming gold in this bull cycle, the S2F creator said the crypto asset would take out gold because it would become twice as scarce as the precious metal. His predictions align with that of crypto exchange Bybit, which reported that Bitcoin’s S2F ratio would double to 112 post-halving while that of gold remains at 60.
Meanwhile, PlanB said his BTC at $300,000 top prediction is the low end of the $250,000 to $1,000,000 range. It remains to be seen if BTC will go higher.
The post This Bitcoin Halving Will Not be Different: PlanB appeared first on CryptoPotato.
According to a tweet, PlanB insists that Bitcoin’s price increases will again be around the halving.
This Halving Will Not be Different
Over the past weeks, several analysts and members of the crypto community have expressed uncertainty about the effect the upcoming halving event would have on Bitcoin (BTC) and its value. This uncertainty stems from BTC reaching an all-time high a month before the halving.
In previous cycles, Bitcoin’s all-time highs usually come after the halving as BTC supply and production rate slows down due to the event slashing miners block rewards by 50%. However, high demand for the United States spot Bitcoin exchange-traded funds (ETFs) launched in January pushed BTC past its November 2021 high of $69,000 to a new peak of $73,700 in mid-March.
At this point, it remains unclear how much BTC will rally after the halving and if the asset’s gains will be substantial compared to previous events.
PlanB has remained adamant in his stance about Bitcoin’s price trajectory and insists that the cryptocurrency will surge to $100,000 this year after halving, topping $300,000 in 2025. It appears his followers share the same view as a poll he released on X late last month disclosed 71.9% of the participants expect BTC to hit $100,000 in 2024.
Bitcoin to Take Out Gold
To strengthen his claims that all price increases will take place around the halving, PlanB explained that buying BTC six months before the event and selling the assets 18 months after will outperform buying and holding the cryptocurrency. Traders are likely to make more gains if they sell their holdings a year after the halving, per PlanB’s analysis.
Responding to a comment on BTC outperforming gold in this bull cycle, the S2F creator said the crypto asset would take out gold because it would become twice as scarce as the precious metal. His predictions align with that of crypto exchange Bybit, which reported that Bitcoin’s S2F ratio would double to 112 post-halving while that of gold remains at 60.
Meanwhile, PlanB said his BTC at $300,000 top prediction is the low end of the $250,000 to $1,000,000 range. It remains to be seen if BTC will go higher.
The post This Bitcoin Halving Will Not be Different: PlanB appeared first on CryptoPotato.
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