Analyst PlanB has presented his forecast regarding the future price of Bitcoin, pointing out its undervaluation.
Stock-to-Flow Model Assessment
Well-known cryptocurrency market analyst PlanB argues that Bitcoin's current price levels remain considerably low within its four-year cycle. He believes that Bitcoin's average value in the ongoing cycle should be $500,000, significantly higher than current levels. PlanB opines that Bitcoin is only in the first year of its four-year cycle and anticipates substantial price increases over the next three years.
Is the Bull Market in Its Early Stages?
PlanB notes a temporary spike in Bitcoin prices with the recent introduction of Bitcoin exchange-traded funds (ETFs), followed by a return to initial price levels characteristic of previous bull markets. This indicates, according to the analyst, that we are in the very early stage of a new upward cycle.
Price Predictions and Market Expectations
The analyst speculates that Bitcoin's price in the current cycle could range between $250,000 and $1 million. He shares the idea that Bitcoin might have a potential increase of around 860% during the ongoing cycle. PlanB's statements may seem optimistic predictions to some investors, but he does not guarantee achieving specific price targets.
PlanB's forecasts highlight both the potential for significant Bitcoin growth and a caution for investors to conduct their analyses.
