Popular Quantitative analyst PlanB, who is known for his stock to-flow Bitcoin model (BTC), has expressed bullish sentiments for the most prominent crypto asset.
PlanB interviewed Benjamin Cowen, crypto trader. says that while the current sentiment towards crypto is bearish due to the disintegration of digital assets exchange FTX, it wouldn’t shock him if the king crypto hit $100,000 after the next halving.
PlanB says that some of the catalysts for a huge rally in Bitcoin are the end of Russia-Ukraine’s war and the loosening monetary policies.
“I know it doesn’t look very well right now with the [collapse of] FTX and all its fallout for customers and investors [of] FTX but we have one-and-a-half years to go [before the next halving].
Once the quantitative easing has begun, or the war in Russia or Ukraine is over, or whatever trigger it will be, then we can easily reach [$100,000]. Let’s say 2024, where the logarithmic regression and the stock-to-flow model are a crosslink, which is in the $100,000 area. Yeah, I would not be surprised.”
The stock-to-flow model predicts an asset’s value changes by comparing its current price to the rate at which its supply is generated.
PlanB states that the average bear market bottom for Bitcoin is 18 months after it reaches a record-high. He says that the bottom could occur within the next three-months.
“The bottom of the bear market is also about a year, one and a half years, after the all-time highs. And that’s also true today. It was true in 2019, in 2015, it’s also true today in 2022. It will rise from the bottom of bear markets.
The rising, if we can call it that, does not start at the halving, or after the halving. It will begin when the bottom of a bear market has been reached. This could be right now. Or next month. Maybe three months from now. But it will come.”
Bitcoin traded for $16,551 at the time of writing, an increase of 2.2%.
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