PlanB’s profile believes that Bitcoin’s price will face a wave of appreciation from the sixth month after the 2020 halving, following the famous „Stock-to-Flow“ (S2FX) forecasting model that bets a price of up to $288,000 on cryptomoney.
The last halving took place on Monday (11), reducing the reward generated to each mined block of Bitcoin to 6.25 BTC, and the next such event is scheduled for 2024.
According to the analysis published by PlanB’s Twitter profile, Bitcoin’s price tends to seek greater market appreciation even in 2020, and may soon reach $228,000.
Is Bitcoin set to be worth $228,000?
The „Stock-to-Flow“ theory argues that the lower the issuance and supply of cryptomoney, the higher the price of the asset in the market tends to be.
Since Bitcoin issuance is halved each time halving occurs, the event is known to increase the price of the asset in the months following the reduction in the reward.
The forecast presented by this model brings a bet of $288,000 for
- Cryptosoft Website
- Bitcoin Compass Website
- Bitcoin Circuit Website
- Bitcoin Lifestyle Website
- Corona Millionaire Website
on what would be the „next phase“ of the asset, considering the graph published by the analyst on Twitter.
The graph shows that even in 2020 the price of Bitcoin will face a wave of appreciation that could make the crypt currency trade at $228,000.
Considering the Plan B study, the price of Bitcoin will rise from November 2020, and the asset has up to six months after halving in 2024 to reach the value presented by the analyst on social networks.
Cryptomoney trading at $1 million
The Stock-to-Flow model was considered an important theory to scale the growth of Bitcoin with each halving, the event that reduces the reward in mining and should be repeated every four years until 2140.
The same theory used by Plan B to develop a forecast for Bitcoin in 2020 has already served to put a price on cryptomone after the 2012 and 2016 halves.
Initially, the analyst expected that Bitcoin’s price could reach $1,000,000 by 2024, but this figure has been revised and in a recent review and is currently at $400,000, according to the Cointelegraph.
On the other hand, the same model suggests that the price of Bitcoin could be worth up to $10,000 still in 2020, taking advantage of the momentum caused by halving.
Although the big appreciation advocated by Plan B is not happening, Bitcoin’s price is still rising in the market three days after the mining reward was halved.