Crypto analyst PlanB is predicting a big jump in Bitcoin’s price. He says Bitcoin is entering the “vertical” part of the S-curve, a model used to track the growth of crypto projects.
What Does the S-Curve Mean for Bitcoin?
PlanB believes Bitcoin is about to experience a steep rise in price. He compares this to the S-curve, where the adoption and growth of a project rapidly accelerate after a period of slower growth.
PlanB’s Model Predicts Big Gains
PlanB’s model, called the Stock-to-Flow (S2F) model, predicts Bitcoin could reach an average price of $500,000, with a possible range between $250,000 and $1 million. He says this prediction is based on Bitcoin’s increasing scarcity and adoption, particularly through Bitcoin ETFs.
History Shows Strong Bull Runs After Halving Events
PlanB’s model has historically been accurate in predicting bull runs after Bitcoin halving events, where the rewards for miners are cut in half. The last halving event happened in April 2020.
Trump’s Victory a Bullish Catalyst
PlanB also believes Donald Trump’s recent election victory is a positive sign for Bitcoin.
Bitcoin Price Surges
Bitcoin’s price has already surged to a new all-time high of $89,560.95, and is currently trading at $88,767. It’s up nearly 11% in the past day and more than 30% in the past week.
Remember:
This is just one analyst’s opinion. Always do your own research before investing in cryptocurrencies. /p>
