Closely followed quant analyst PlanB believes that Bitcoin (BTC) can print more than 4X gains this market cycle.
In a new strategy session, the on-chain analyst tells his 140,000 YouTube subscribers that it would be a letdown if Bitcoin ended the current bull market with a $200,000 price peak.
PlanB says his stock-to-flow model, which compares the amount of a commodity in circulation divided by the amount produced every year, suggests that BTC will see an over 660% rally from current prices before the market cycle ends.
“So the next top will not be in this year, 2024, but in next year, 2025. That top – some people talk about $200,000 as the next top. You can see on this chart [below] that that would be very underwhelming.
In fact, from a stock-to-flow perspective, we need a top that’s much higher than the average $500,000. So let’s say $600,000 [or] $700,000 maybe or a $1,000,000… So the top will be higher than $500,000 in 2025.”
But PlanB warns that Bitcoin’s ascent will likely have bumps along the way. He says he expects Bitcoin to witness several corrections in the coming months en route to hitting his price target.
“There will be volatility, too. That’s very important. It won’t be straight up and no dips. There will be multiple minus 20% or 30% dips. That’s very normal… Personally, and this is not financial advice of course… I will do nothing let’s say for the next 12 months.
And I will re-assess when the market phase switches from bull market to distribution.”
At time of writing, Bitcoin is worth $65,554, down over 5% in the past day.
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The post Quant Analyst PlanB Unveils Massive Bitcoin Price Target, Says $200,000 BTC ‘Very Underwhelming’ appeared first on The Daily Hodl.
