HomeBitcoinQuant Analyst PlanB Says Bitcoin Bull Market Is Underway, Predicts BTC Will...

Quant Analyst PlanB Says Bitcoin Bull Market Is Underway, Predicts BTC Will Outperform Major Asset Classes


Closely watched quant analyst PlanB says Bitcoin (BTC) is now on track to expand by trillions of dollars to compete with some of the largest asset classes.

The pseudonymous analyst tells his 1.8 million Twitter followers that Bitcoin is now in the early stages of a bull market that may allow big players like BlackRock to accumulate BTC while it is down.

“It is in stage 1 of the early bull market (blue). Of course, BlackRock wants to buy cheap, just before ETF approval and just before stage 2 of the full-blown bull market.”

Fountain: PlanB/Twitter

PlanB popularized the use of stock-to-flow (S2F), which aims to measure the newly created supply of an asset being created over time, relative to the existing supply. Following Bitcoin’s upcoming halving, which halves the newly created BTC being issued to miners, PlanB says S2F will suggest that the king of cryptocurrencies will eventually become more scarce than real estate and grossly undervalued compared to other commodities like gold, silver, and diamonds.

“Bitcoin (S2F 58, market value $400B) is grossly undervalued compared to:
– gold (S2F ~60, market value ~$10T)
– diamonds (S2F ~40, market value ~$1T)
– silver (S2F ~30, market value ~$500B)
How will the markets react after the 2024 halving, when BTC S2F hits ~110 (> real estate)?

Fountain: PlanB/Twitter

In a new strategy session, PlanB says it expects the king of cryptocurrencies to rise in price to around $50,000 as Bitcoin approaches its next halving event.

says the analyst,

“The big question is [what] Will the Bitcoin price be in the April 2024 halving? We can try to estimate that just from this 200-week moving average…

The 200-week moving average is currently rising by around $500 per [month]so nine times $500 will be $4,500, and Bitcoin’s 200-week moving average right now is just under $28,000, so $28,000 plus $4,000 is fine [a] $32,000 moving average (200 weeks) at about half.

And Bitcoin would be above that right, and would typically be like 50% above that, which would indicate a Bitcoin halving range between $40,000 and $50,000.”

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