[New post] ‘Enjoy sub-$40K Bitcoin’ — PlanB stresses $100K average BTC price from 2024

Crypto Breaking News posted: "Bitcoin (BTC) buyers should enjoy the chance to add to their stack below $40,000, says one of the crypto industry's household names.In a post on X (formerly Twitter) on Nov. 24, PlanB, creator of the stock-to-flow family of BTC price models, hinted that c" Crypto Breaking News 'Enjoy sub-$40K Bitcoin' — PlanB stresses $100K average BTC price from 2024 Crypto Breaking News Nov 24 Bitcoin (BTC) buyers should enjoy the chance to add to their stack below $40,000, says one of the crypto industry's household names. In a post on X (formerly Twitter) on Nov. 24, PlanB, creator of the stock-to-flow family of BTC price models, hinted that current levels would not be around long. PlanB: Time is ticking on $40,000 resistance Bitcoin is destined to go much higher than its recent 18-month highs, PlanB believes, and time is ticking to increase BTC exposure below $40,000. Known for his optimistic takes on long-term BTC price growth, PlanB used realized price data to support the case for bulls. Realized price is Bitcoin's realized cap — the sum total price at which all BTC last moved — divided by the current supply. It is currently at just below $21,000. Bitcoin bear market bottoms are characterized by the spot price dipping below the realized price, while bull markets begin once the spot crosses the two-year and five-month realized price levels. These refer to the realized price of coins that last moved within the last two years or the last five months — "younger" coins. BTC/USD is now once again above all three realized price iterations. "Enjoy sub-$40k bitcoin ... while it lasts," PlanB commented on an accompanying chart. Bitcoin realized price chart. Source: PlanB/X Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin's next halving cycle. Bitcoin hodlers bet on six figures While PlanB has fielded criticism over stock-to-flow — and conceded that Bitcoin was not able to live up to his expectations during its 2021 bull market — six-figure predictions for the next cycle are increasingly common. Related: Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildly As Cointelegraph reported, these are coalescing around an area with $130,000 as its focus for the end of 2025. The halving itself, meanwhile, due in April 2024, should produce a return to around $46,000, further analysis says. Earlier this month, PlanB described Bitcoin as being in a "pre-bull market" phase, with the real launch yet to come. IMO bitcoin is currently in pre-bull market (yellow) and on track towards a full blown bull market (red, after halving unless earlier ETF approval). Note I changed colors and stage names again, to better align with S2F model: pre-bull bull market pre-bear bear market pic.twitter.com/tmayjteVWv — PlanB (@100trillionUSD) November 19, 2023 This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Source: Cointelegraph.com Manage your email settings or unsubscribe. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptobreaking.com/enjoy-sub-40k-bitcoin-planb-stresses-100k-average-btc-price-from-2024/

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