'Enjoy sub-$40K Bitcoin' — PlanB stresses $100K average BTC price from 2024
Bitcoin (BTC) buyers should “enjoy” the chance to add to their stack below $40,000, says one of crypto’s household names.
In a post on X (formerly Twitter) on Nov. 24, PlanB, creator of the Stock-to-Flow family of BTC price models, hinted that current levels would not be around long.
Bitcoin is destined to go much higher than its recent 18-month highs, PlanB believes, and time is ticking to increase BTC exposure below $40,000.
Known for his optimistic takes on long-term BTC price growth, PlanB this time used realized price data to support the case for bulls.
Realized price is Bitcoin’s realized cap — the sum total price at which all BTC last moved — divided by the current supply. It is currently at just below $21,000.
Bitcoin bear market bottoms are characterized by spot price dipping below realized price, while bull markets have begun once spot crosses the two-year and five-month realized price levels. These refer to the realized price of coins which last moved within either the last two years or five months — “younger” coins.
BTC/USD is now once again above all three realized price iterations.
“Enjoy sub-$40k bitcoin ... while it lasts,” PlanB thus commented on an accompanying chart.
Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin’s next halving cycle.
While PlanB has fielded criticism over Stock-to-Flow — and conceded that Bitcoin was not able to live up to his expectations during its 2021 bull market — six-figure predictions for the next cycle are increasingly common.
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