U.Today – PlanB, a well-known cryptocurrency analyst and creator of the stock-to-flow (S2F) model, presented its year-end predictions for the price of (BTC). The analyst’s forecast covers five years, starting from 2024 to 2028.
Bitcoin price forecast for the end of the year PlanB
“My best guess is the Bitcoin scenario for 2024-2028: 2024 (EOY): $0.15 million, 2025: $0.8 million, 2026: $0.4 million, 2027: $0.3 million, 2028: $0.4 million,” PlanB noted. The analyst used the S2F model to compare Bitcoin’s trend with previous cycles, emphasizing that it perfectly matches the S2F^3 power law model.
From the analyst’s chart, Bitcoin is expected to reach $150,000 by the end of this year and $800,000 by 2025. Bitcoin’s value reaching $800,000 next year represents a more than 10-fold boost in its current price. PlanB admitted that this Bitcoin price prediction sounds unrealistic, but claims that 800,000. would be consistent with the best-fitting historical data model with the highest R2.
However, PlanB highlighted hacks, scams, defaults, forks, and crackdowns as risks that could disrupt this bullish outlook for Bitcoin. Jeroen Blokland, founder of Blokland Smart Multi-Asset Fund, commented that Bitcoin at $0.8 million means a market capitalization close to that of gold.
Will PlanB’s predictions come true?
Whether PlanB’s bullish Bitcoin price prediction turns out to be true will depend on several factors. First, investor sentiment around a leading digital asset will determine its future price movement. Price increases usually result from positive market sentiment.
As revealed in an earlier U.Today report, PlanB claims that Bitcoin will continue to see accumulation from investors in 2024-2025. If this analogy continues, the analyst’s prediction for Bitcoin could come true.
Another key factor that could push Bitcoin’s price higher is increased adoption by institutional players through Bitcoin ETF spot products.
