Quant analyst PlanB says Bitcoin (BTC) is on track to explode by more than 500% – here’s the timeline

Quant analyst PlanB says Bitcoin (BTC) is on track to explode by more than 500% – here’s the timeline

Popular quantitative analyst PlanB, known for its stock-to-flow Bitcoin (BTC) model, is expressing bullish sentiment for the flagship crypto asset.

In a new interview with crypto trader Benjamin Cowen, PlanB says that while the current sentiment towards crypto is bearish due to the breakup of the digital asset exchange FTX, he wouldn’t be surprised if the king crypto reached $100,000 after the next halving.

According to PlanB, some of the catalysts that could spark a massive rally for Bitcoin include the end of the war between Russia and Ukraine or the easing of monetary policy.

“I know things aren’t looking too good with the right now [collapse of] FTX and all the consequences of the customers and investors [of] FTX, but we still have a year and a half to go [before the next halving].

So once quantitative easing kicks in, or the war in Russia and Ukraine is over, or whatever trigger there will be, we can easily [$100,000]. Let’s say 2024, where the logarithmic regression and the stock-to-flow model cross-link, which is in the $100,000 area. Yes, I wouldn’t be surprised.”

The stock-to-flow model predicts an asset’s changes in value by comparing its current price to the rate at which supply is generated.

On whether the crypto market has bottomed, PlanB says that Bitcoin typically bottoms out in the bear market about 18 months after reaching a record high price. He notes that the bottom could form sometime in the next three months.

“The bottom of the bear market is also about a year, a year and a half after the all-time highs. And that also applies today. It was true in 2019, in 2015, it is also true today in 2022. But from the bottom of the bear market, once we get to the bottom, it will go up.

So the ascent, if you will, doesn’t start at the halving or after the halving. It starts when the bottom of the bear market is reached. And that could be today. Or next month. Or maybe in three months. But it will come.”

Bitcoin is changing hands at the time of writing for $16,551, up 2.2% on the day.

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