In the ever-evolving landscape of digital currencies, the name PlanB has become well-known among enthusiasts and crypto investors. Renowned for meticulous analysis and predictive models, PlanB recently made a bold statement regarding Bitcoin (BTC).

In a detailed video analysis, PlanB predicted that BTC is on the cusp of an unprecedented bull run, with the potential to soar to US$100,000 by 2024. This prediction is not merely based on speculative optimism but on historical performance analysis of Bitcoin and market trends.

Coin Edition reported that PlanB's confidence in Bitcoin reaching US$100,000 stems from the application of the Stock-to-Flow (S2F) model, which has gained attention for its accuracy in predicting Bitcoin price movements based on its scarcity.

According to PlanB, the recent price achievement of Bitcoin is just the beginning. He anticipates a sharp increase in the value of BTC, especially after surpassing its recent all-time high (ATH). The S2F model indicates a target of US$500,000 for the next bull run following the next Bitcoin halving event.

This event, a fundamental aspect of Bitcoin's design, cuts the reward for mining new blocks in half, hence reducing the supply of new Bitcoins and often leading to price increases.

PlanB explains that the journey to reach and exceed the US$500,000 mark will occur gradually, in line with the inherent crypto growth pattern. Referring to historical data, he explains that bull runs triggered by halving events typically unfold over more than a year.

Early Bull Run Signals

The anticipation for this bull run is based on early signals detected in the current market trend. PlanB highlights that, compared to previous cycles, the BTC price has already shown signs of entering the next bull phase, which he expects to last around a year.

However, he warns investors about the potential increase in market volatility, asserting that the path to new highs is likely to be marked by some corrections.

To refine his analysis, PlanB has turned to technical indicators such as RSI. This indicator shows that Bitcoin is exhibiting unprecedented pre-halving strength.

This is a noteworthy deviation from past cycle patterns, where pre-halving anticipation usually led to reduced returns. The current RSI level indicates that Bitcoin may not follow its historical pre-halving price behavior, strengthening the potential for significant growth.