– Bitcoin is currently in its “pre-bull market” phase, according to PlanB, the creator of the stock-to-flow family of BTC price models.
– PlanB believes that Bitcoin’s price will go much higher than its recent 18-month highs and that time is running out to increase BTC exposure below $40,000.
– Realized price data supports the case for bullishness, with Bitcoin’s realized cap currently at just below $21,000.
– Bull markets typically begin once the spot price crosses the two-year and five-month realized price levels.
– PlanB expects an average BTC price of at least $100,000 between 2024 and 2028, during Bitcoin’s next halving cycle.
– While PlanB has faced criticism over his stock-to-flow model, six-figure predictions for Bitcoin’s next cycle are becoming more common.
– The halving in April 2024 is expected to produce a return to around $46,000.
– PlanB describes Bitcoin as being in a “pre-bull market” phase, with the real launch yet to come.