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- PlanB expects Bitcoin (BTC) bull run in 2024
- Will next bull market be different?
Bitcoin (BTC), the largest cryptocurrency, might enter its next bullish rally after the upcoming halving event. Analyst PlanB does not expect investors’ psychological patterns to change much in 2024-2025.
PlanB expects Bitcoin (BTC) bull run in 2024
Bitcoin (BTC) remains in an accumulation phase, and its performance is “on track” with another version of the stock-to-flow model published by pseudonymous quant analyst PlanB (@100trillionUSD in X). As such, a full-scale “bull market” is the next phase of Bitcoin’s (BTC) price dynamics, he stressed.
Asked about the exact dates of the next bull run rally, analyst PlanB shared the popular opinion about the halving event as a predecessor of a Bitcoin (BTC) bull run. As such, he expects this hotly anticipated process to start after April 2024.
He also expects the next bull run to last for at least eight months. As such, we can see Bitcoin (BTC) reaching a cycle high in Q1, 2025, at the earliest. The collapses of the Terra (LUNA) and FTX ecosystems were the largest events of the liquidation phase, he added.
As covered by U.Today previously, PlanB called the post-FTX Bitcoin (BTC) performance the weakest in the entire history of the first cryptocurrency. Also, in July 2023, he opined that Bitcoin’s (BTC) bear market might have been over.
Analyst PlanB is well known as the author of the “stock-to-flow” Bitcoin (BTC) price model that centers on the increasing scarcity of Bitcoin (BTC) as a major catalyst for its price bullish performance. As Bitcoin (BTC) issuance loses 50% every four years, the asset becomes scarcer and scarcer, so its price increases.
Will next bull market be different?
While in general this model works on large time frames, its accuracy was challenged in recent months. It started failing predictions since Q4, 2021, as U.Today previously covered.
In view of the next bullish rally, PlanB simplified his model. Previously, he used different colors to indicate the distance between the halving and certain phases of Bitcoin’s (BTC) price performance.
Now, he has switched to to the “accumulation-bull market-bear market-liquidation” model. At the same time, he highlights that the mechanisms of Bitcoin (BTC) investors’ psychology will not change much in the next bull market.
Bitcoin (BTC) is changing hands at $27,300 as of press time.
This news is republished from another source.
