Early Bull Market Fuels Bitcoin’s 2024 Surge Toward $100K, Predicts Plan B

The bull market is stirring excitement, initiated by Plan B, a renowned Bitcoin analyst. Renowned for his “stock-to-flow” (S2F) model, which links Bitcoin’s value to its scarcity, he predicts a rise to $100,000 by 2024. This prediction, shared with his 1.9 million followers on X, indicates that the bullish phase has started earlier than expected, setting the stage for significant gains in Bitcoin’s value.

Plan B’s forecast hinges on the S2F model, which posits that Bitcoin’s price increases as its supply decreases, particularly after halving events that cut the mining rewards in half. This reduced supply, according to the model, should lead to a higher price as demand remains strong. This dynamics suggest a lucrative phase ahead for Bitcoin, aligning with the early onset of this bull market.

Plan B’s forecast, as reported by The BIT Journal,  has caught the attention of crypto enthusiasts and market watchers alike. The idea of Bitcoin reaching such a high mark has sparked widespread interest, with discussions proliferating across the crypto community. The question on everyone’s mind is whether this prediction will become reality as the bull market gains momentum.

An Early Start to the Bull Market

Plan B has pointed out that the market has begun earlier than usual, a development that he believes could have a profound impact on Bitcoin’s future trajectory. He recently shared his thoughts on X, stating:

“The issue with the current Bitcoin market IMO: it went into bull market too early. Normally, halvings (every 210,000 blocks) are in the accumulation phase, but the 2024 halving (block 840,000) is in the bull market phase. So we have been front-running, but the market was not ready to go up yet.”

Despite this premature start, Plan B remains confident that Bitcoin will still hit the $100,000 mark in 2024, a prediction that has only fueled the excitement within the crypto community.

Advertisement Banner

The unexpected early arrival of the bull market has led to a surge of speculation and analysis among crypto experts. Many are now considering the possibility that this earlier start could lead to an even higher peak for Bitcoin, potentially surpassing previous expectations. The market’s early shift has brought a mix of enthusiasm and cautious optimism, as analysts weigh the potential outcomes of this unique situation.

Bull Market Projections

With the market in full swing, Plan B has reiterated his predictions for Bitcoin’s future value. When asked whether his projection of an average price of $532,000 in October and November 2025 still holds, the S2F creator responded without hesitation:

“Yes, I still expect [greater than $100,000] in 2024 and [greater than $500,000] in 2025.”

These projections underline Plan B’s confidence in his stock-to-flow model, even amid the unusual timing of the market’s rise. His steadfast belief in the model suggests that the early start of the bull market doesn’t necessarily mean it will be shorter, but rather that Bitcoin could have more room to grow, potentially reaching unprecedented levels.

The Future of the Bull Market: Opportunities Ahead

As the bull market progresses, The BIT Journal has been closely monitoring these developments, keeping the crypto community informed. With Bitcoin’s potential to reach $100,000 in 2024, as Plan B predicts, excitement among investors continues to build. Plan B’s unwavering belief in the stock-to-flow model, coupled with his prediction of Bitcoin hitting $500,000 by 2025, has only heightened this anticipation.

Even though the market began earlier than expected, Plan B remains optimistic about Bitcoin’s future. His consistent confidence has drawn significant attention, and many are watching closely to see if his predictions will come to pass.