PlanB Reveals Bitcoin Price Forecast: When Can BTC Break $1 Million?

The crypto analyst PlanB revealed that the Bitcoin price forecast is extremely optimistic. Check out what he had to say about the king coin.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $24,783.

In a new video, the analyst updates BTC’s stock-to-flow ratio. Just to refresh your memory, this is typically used to forecast the future price of scarce commodities.

The ratio is essentially calculated by dividing the amount of BTC in circulation by the amount of Bitcoin mined per year.

PlanB has maintained two stock-to-flow models – these had some different small variations and said both models have remained intact.

He also made sure to address the fact that Bitcoin will see its coming halving, which will reduce the amount of new supply entering the market in about a year, as the key catalyst that will spark an explosive BTC bull run.

PlanB explained both of his stock-to-flow models show BTC’s next top will likely be in the $100,000 to $1,000,000 range.

“My forward guidance for the next three years is that the 2024 halving is coming… and the halving increases scarcity [and] pumps the Bitcoin price, just like it did last three halvings.”

He continued and said this: “That yellow square is where it’s all about because those are the 2025 ranges that I gave.”

He concluded by saying this:

“And I said it will be higher than $100,000, which is the bottom end of the bandwidth. But in fact, I guess it will be between $100,000 and $1 million. And the stock-to-flow model is indicating $500,000.”

More predictions are saying that BTC will see a parabolic rise in price.

It’s been just revealed that a crypto strategist who nailed Bitcoin’s May 2021 collapse says that a steep rally could be on the horizon for BTC.

Pseudonymous analyst Dave the Wave said not too long ago that Bitcoin could be mirroring its early 2019 price action when the king crypto surged from below $4,000 to about $14,000 in a few months.

Check out the previous article in order to learn more details about this.