Nov 24, 2023

PlanB Predicts Average Bitcoin Price of $100K by 2024

Those looking to add Bitcoin (BTC) to their portfolio should take advantage of prices below $40,000, according to one of the most well-known figures in the crypto space, PlanB. The creator of the Stock-to-Flow models shared his opinion on X (formerly Twitter) on Nov. 24, suggesting that the current prices might not last long. Web…

Bitcoin Price Predictions by PlanB - Average $100K by 2024.
‘Enjoy sub-$40K Bitcoin’ — PlanB stresses $100K average BTC price from 2024

Those looking to add Bitcoin (BTC) to their portfolio should take advantage of prices below $40,000, according to one of the most well-known figures in the crypto space, PlanB. The creator of the Stock-to-Flow models shared his opinion on X (formerly Twitter) on Nov. 24, suggesting that the current prices might not last long.

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PlanB: Time is ticking on $40,000 resistance

According to PlanB’s optimistic predictions, Bitcoin is set to go much higher than its current 18-month highs, and it is essential to increase BTC exposure below $40,000 before time runs out.

PlanB uses the realized price data to back up his case for bulls. Realized price is the total amount of money at which all Bitcoin was last traded, divided by the current supply. It is currently around $21,000.

During a bear market, the spot price of Bitcoin drops below the realized price. On the other hand, when the spot price crosses the two-year and five-month realized price levels, it signals the beginning of a bull market. These levels refer to the realized price of coins that were last traded within the last two years or five months.

At the moment, BTC/USD is above all three realized price iterations. That’s why PlanB commented on an accompanying chart: “Enjoy sub-$40k bitcoin … while it lasts.”

When asked if the market should expect lower levels in the future, PlanB refused to answer, but he did say that he expects the average BTC price to be at least $100,000 between 2024 and 2028 — Bitcoin’s next halving cycle.

Bitcoin hodlers wager on six-digit figures

Although PlanB has faced criticism for Stock-to-Flow — and accepted that Bitcoin was unable to live up to his expectations during its 2021 bull market — expectations of six-digit figures for the next cycle are becoming more common.

As Cointelegraph reported, these predictions are centered around $130,000 by the end of 2025.

The halving, which is due in April 2024, should bring Bitcoin back to around $46,000, according to further research.

PlanB recently described Bitcoin as being in a “pre-bull market” stage, with the actual launch yet to come.

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