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A pseudo-anonymous analyst known as the creator of the popular Stock to Flow (S2F) model for bitcoin (BTC) - PlanB - expects further increases in the leading cryptocurrency. Moreover, he speculates that this one will top gold!
The well-known analyst assumes that the price of BTC will increase nearly 4 times its current price,
He presented his expectations for the price of the leading cryptocurrency PlanB, citing its future unit value in ounces of gold.
Bitcoin ready to rally!
The coming years could prove highly fruitful for the largest of the virtual currencies. A popular expert has decided to present his latest long-term forecasts for BTC. He reckons that in 2024-2025 the price of bitcoin should be at least 100 ounces of gold.
In his post on the X platform (former Twitter (NYSE:TWTR)) PlanB pointed out that currently one BTC is worth 26 ounces of gold. It should be added that one ounce of gold is about $2,000. Thus, from the speculations presented, it appears that this year or next year the exchange rate of the largest cryptocurrency could reach $200,000.
Bitcoin = 26 ounces of Gold. It would surprise me if BTC would stay below 100 ounces of Gold in 2024/2025. pic.twitter.com/IghU4u7gCy
- PlanB (@100trillionUSD) February 19, 2024
Considering the chart published by PlanB, it shows that BTC should rise above the current ATH, which was around $68.7k, as early as this year. It also forecasts that the cryptocurrency could cost up to 300 ounces of gold ($600,000) in 2025.
BTC trades sideways
After the spectacular increases experienced by the bitcoin exchange rate in recent weeks, it was time for stagnation. Over the past 24 hours, the price of BTC has experienced small fluctuations that do not even exceed 1%.
At the time of this writing, the largest of the cryptocurrencies is trading above $52,300 per coin. It is now only about 24% away from the ATH of 2021. According to the Fear and Greed Index from alternative.me, virtual currency investors are currently showing greed.
