U.Today – PlanB, a renowned crypto analyst and creator of the stock-to-flow (S2F) model, has given his year-end predictions for the price of (BTC). The analyst's forecast covers five years, from 2024 to 2028.
PlanB Year-End Bitcoin Price Prediction
“My best guess is the 2024-2028 Bitcoin scenario: 2024 (EOY): $0.15 million, 2025: $0.8 million, 2026: $0.4 million, 2027: $0.3 million dollars, 2028: $0.4 million,” PlanB noted. The analyst used the S2F model to compare Bitcoin's trend with previous cycles, highlighting that it aligns perfectly with the S2F^3 power law model.
According to the analyst's chart, Bitcoin is expected to reach $150,000 by the end of this year and $800,000 in 2025. Bitcoin reaching $800,000 next year translates to a more than 10x increase in its current price. PlanB acknowledged that this Bitcoin price prediction sounds unrealistic, but claims that 800K would be in line with the highest and best-fitting R2 historical data model.
However, PlanB highlighted hacks, scams, breaches, forks, and crackdowns as risks that could interfere with this bullish forecast for Bitcoin. Jeroen Blokland, founder of the Blokland Smart Multi-Asset Fund, commented that Bitcoin at $0.8 million means a market capitalization close to that of gold.
Will PlanB's prediction come true?
Several factors will determine whether PlanB's bullish Bitcoin price prediction will come true or not. Firstly, investor sentiment around the leading digital asset would determine its future price movement. Price increases usually follow positive market sentiment.
As revealed in a previous U.Today report, PlanB says Bitcoin will continue to see accumulation by investors in 2024-2025. If this analogy continues, the analyst's prediction about Bitcoin could come true.
Another key factor that could drive up the price of Bitcoin is greater adoption by institutional players through spot Bitcoin ETF products.
This article was originally published on U.Today.
