Crypto expert PlanB has predicted the value of bitcoin for the next 8 years

As bulls and bears continue to fight for dominance in the cryptocurrency sector, particularly for bitcoin, the flagship asset is set to see impressive price growth in the coming years, according to a PlanB analyst.

As noted by the crypto analyst and developer of the stock-to-flow (S2F) model for forecasting the price of bitcoin, the average price of BTC $76,384.01 Mezo Wrapped BTC -0.17% Market capitalization $94.46 million VOL. 24 hours $1.39 billion for the period 2020−2024 was $ 34,000, which is slightly lower than the 2019 forecast ($ 55,000).

In view of this, the expert updated the S2 °F model with new data showing similar parameters and results and forecasts the average bitcoin price for the period of 2024−2028 at $ 500,000. In the next period of 2028−2032, the cryptocurrency will cost $ 4 million.

Earlier, a PlanB analyst predicted that the price of bitcoin would reach $ 100,000 in the second half of 2024, given the April closing just above $ 60,000. The professional crypto trader also shared his opinion that the market may peak in 2025, when the largest asset in the crypto industry by market capitalization could potentially exceed $ 200,000.