CandleFocus Bitcoin Will Surpass $250,000, Says Analyst PlanB – Here’s His Timeline
2024-11-09
Author: Content Editor
Quant analyst PlanB believes that Bitcoin is poised for a series of significant rallies based on historical patterns. His stock-to-flow model suggests that Bitcoin could reach over $250,000 in the coming years. The model predicts the performance of an asset based on scarcity, and historically, strong bull runs have occurred after halving events. PlanB also mentions bullish catalysts such as the election of a "pro-Bitcoin" Donald Trump and potential support for Bitcoin Act legislation. He believes that MicroStrategy's large Bitcoin buy program and the growth of spot Bitcoin ETFs will further boost the cryptocurrency's price. At the time of writing, Bitcoin is trading at $76,549.
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