As the crypto market rises, bulls believe all-time highs are on the horizon. Crypto analyst PlanB thinks that Bitcoin (BTC), the largest cryptocurrency by market cap, is preparing for a 2011-style rally.
PlanB previously announced the "stock-to-flow" model and said that the colors in the model were misinterpreted by many. Historically, in both 2014 and 2018, Bitcoin first halved its price and then entered the buy zone with green charts. However, the leading cryptocurrency Bitcoin (BTC) is under price pressure after a certain rise after the bottom and is experiencing a pullback.
Bitcoin; A similar situation was experienced in 2012, 2016 and 2020. First, the price drops by half, goes up, and then the pullback becomes unstoppable. Experts emphasize that Bitcoin (BTC) may face such a pullback this year as well. On the contrary, PlanB states that Bitcoin (BTC) will gradually turn green and will no longer experience a pullback. However, the analyst does not specify when the price will rise or fall.
The "Stock-to-Flow Model" Doesn't Mislead
Among the charting methods used by analysts, the stock-to-flow model provides largely accurate forecasts and does not seem to surprise investors.
With a similar version, the "stock-to-flow cross-asset model," analysts predict that Bitcoin (BTC) will cross the $288,000 mark by 2024. However, some analysts are not as optimistic about this target as PlanB.
"It Could Be 100 Thousand Dollars By 2028"
Harold Christopher Burger, a crypto analyst, says that with PlanB's stock-to-flow model, price forecasting is insane and will never come true. Burger does not think negatively about the price of Bitcoin and predicts that it will increase. Burger expects Bitcoin (BTC) to reach $100,000 by 2028 at the latest, and states the impossibility of $228,000.