PlanB analyst predicts BTC to reach $ 100,000 in 2024

The well-known analyst PlanB has shared his confidence that bitcoin will reach the six-figure mark this year. On the X platform, the pseudo-analyst shared with his 1.9 million followers his BTC $75,028.30 Mezo Wrapped BTC -0.67% Market capitalization $0.1 billion VOL. 24 hours $1.12 billion predictions for 2024.

One of PlanB’s predictions is that Bitcoin will reach $ 100,000 in 2024. «My forecast for 2024 hasn’t changed since October 6, 2022, when bitcoin was worth $ 20,000,» the expert said, publishing his own «task list» for the market’s flagship:

• doubling by April 2024;
• halving around the value of the S2 °F 55k model (range $ 30,000 — $ 100,000);
• pumping after halving;
• reaching 100,000 in 2024;
• target S2 °F value of 532,0000 on average (range $ 250,000 — 1 million).

PlanB is known for applying its own version of the stock-to-flow (S2F) model, originally used for traditional commodities, to bitcoin. Based on S2 °F, PlanB says it expects BTC to approach the half-million dollar mark at some point over the next few years, possibly in 2025. «Bitcoin closing in 2023: $ 42,258. An increase of 156% from $ 16,528 in 2022. Ready for ETFs and doubling in 2024.»

In late November, a PlanB analyst said that bitcoin would never fall below $ 35,000 again. «In particular, if there are no events such as black swans or short-term volatility, based on the fundamental principles of $/kWh arbitrage… BTC will never fall below $ 35,000 again and will continue to grow,» the expert explained.