Godfrey Benjamin
Stock 2 Flow (S2F) creator PlanB shares the Bitcoin (BTC) prediction everyone needs to take note of
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PlanB, the creator of the Stock 2 Flow (S2F) model, has shared an unpopular but reassuring Bitcoin (BTC) price prediction. In one of his posts on X, PlanB emphasized that the price of Bitcoin will never fall below $35,000 again.
He presented a chart in which he argued that Bitcoin’s valuation had increased due to its inherent hashrate. He said based on his opinion that barring possible black swans or short-term volatility and based on $/kWh arbitrage fundamentals, the market value of blue-chip assets will not fall below the $35,000 support.
He reiterated his findings in a few follow-up posts, highlighting the arbitrage that exists between Bitcoin miners who buy the asset with electricity and users who buy with cash on exchanges. In his opinion, this arbitrage could be deepened with the upcoming ETF, and miners selling the cryptocurrency could command a premium based on their unique market knowledge.
As the developer of a widely used market analysis model, PlanB provides a compelling prediction on several assets, especially Bitcoin. PlanB is one of the analysts who believes that a Bitcoin price of $100,000 is a conservative estimate for the digital currency. He recently pushed the narrative that Bitcoin will trade between $65,000 and $524,000 in the near term.
Current Bitcoin outlook and market forecasts
The PlanB forecast comes at a time when the market is experiencing a strong upswing as a bearish takeover appears to be underway. Bitcoin is currently trading at $37,106.80, down 1.07% in the last 24 hours.
Despite the extensive decline, the asset’s price still appears to be far from falling to the $35,000 price level, confirming PlanB’s predictions. The market’s growing clamor for the approval of a Bitcoin spot exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) has led to another twist that could bolster the market’s resilience.
According to Ark Invest’s Cathie Wood, the expectation of a Bitcoin ETF pegged at a 90% probability has fueled many bullish predictions for BTC, including its potential to rise above $600,000.
About the author
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for cryptocurrencies was born when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. Due to his extensive experience in various aspects of Web3, Godfrey’s articles have been published on Blockchain.news, Cryptonews and Coingape, among others.
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