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Quant Analyst PlanB Says Bitcoin (BTC) Is On Track To Explode Over 500% – Here’s The Timeline




Popular quantitative analyst PlanB, known for its stock-to-flow Bitcoin (BTC) model, expresses bullish sentiment for its flagship crypto asset.

In a new interview with crypto trader Benjamin Cowen, PlanB says that while the current sentiment towards crypto is bearish due to the dissolution of digital asset exchange FTX, it would not shock him if the king crypto reached $100,000 after the next halving.

According to PlanB, some of the catalysts that could trigger a massive rally for Bitcoin include the end of the war between Russia and Ukraine or loosening of monetary policy.

“I know it doesn’t look very good right now with [collapse of] FTX and all the fallout from the customers and investors [of] FTX, but we have a year and a half left [before the next halving].

So when the quantitative easing starts to go, or the war in Russia and Ukraine is over, or whatever the trigger will be, we can easily reach [$1[ads1]00,000]. Let’s say 2024, where the logarithmic regression and the stock-to-flow model is a cross-link, that’s in the $100,000 range. Yeah, I wouldn’t be surprised.”

The stock-to-flow model predicts an asset’s value changes by comparing its current price to the rate at which supply is generated.

As for whether the crypto market has bottomed out, PlanB says that Bitcoin typically reaches a bear market low about 18 months after hitting an all-time high. He notes that the bottom could form sometime in the next three months.

“The bottom of the bear market is also about a year, a year and a half, after the all-time highs. And that is also true today. It was true in 2019, in 2015, it is also true today in 2022. But from the bottom of the bear market, when we reach the bottom, it will go up.

So the rise, if you will, does not start at the halving or after the halving. It starts when the bottom of the bear market is reached. And it could be today. Or next month. Or maybe three months from now. But it will come.”

Bitcoin is changing hands at $16,551 at the time of writing, a gain of 2.2% on the day.

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