PlanB, a well-known analyst and the author of the stock-to-flow model for Bitcoin (BTC) has shared his views on the potential bullish rally for the cryptocurrency. According to PlanB, Bitcoin may enter its next bull run after the upcoming halving event.
Bitcoin is currently in an accumulation phase, and its performance aligns with PlanB’s stock-to-flow model. The stock-to-flow model suggests that Bitcoin’s increasing scarcity, as its issuance decreases by 50% every four years, is a major catalyst for its price bullish performance.
Bitcoin still in stage 1, accumulation, on track!
Ps I changed the stage names into more intuitive ones:
🔵 stage 1 – accumulation
🟢 stage 2 – bull market
🟡 stage 3 – bear market
🔴 stage 4 – liquidation pic.twitter.com/QEdkGT5Xpe— PlanB (@100trillionUSD) September 17, 2023
PlanB predicts that the next bull run for Bitcoin will likely occur in 2024. He expects the bull run to last for a minimum of eight months, with Bitcoin potentially reaching a cycle high in the first quarter of 2025. PlanB also mentions that the collapses of the Terra (LUNA) and FTX ecosystems were significant events during the liquidation phase.
To simplify his model, PlanB has switched to an “accumulation-bull market-bear market-liquidation” framework. Despite the model’s challenges, PlanB believes that the psychological patterns of Bitcoin investors will not undergo significant changes in the next bull market.
Source: UTODAY
