Bitcoin price could reach $ 864,000 by 2024

Over the past few days, the price of bitcoin has dropped from $12,000 to $10,000.However, the analyst and creatorthe popular model of the ratio of reserves to inflow (S2F) PlanB predicts that in 2024 BTC will show parabolic growth, having increased from $ 288 thousand by another 3 times.

Even with the recent technical reversal,PlanB remained optimistic. In a podcast with Peter McCormack, a bitcoin analyst explained that $ 288,000 should in fact be considered an underestimate. He says bitcoin could triple its original target of $ 288,000.

Understanding the reaction of sane participants in the crypto space, PlanB added that all this is possible, because Bitcoin did something similar in the previous stages.

A threefold increase from 288 thousand dollars will lead to the fact that by the end of 2024 Bitcoin will be worth about 864 thousand dollars.

It is noteworthy that PlanB is insanely optimistic aboutregarding its model, assuming that the price of bitcoin is still moving in accordance with forecasts. On top of that, he noted that MicroStrategy's investment in BTC is bullish.

At the same time, the crypto trader admits that the model is not 100% reliable. The good news is that, in his opinion, Bitcoin won't fail anyway.

Regarding this situation, PlanB believes thatcontinued bearish pressure in cryptocurrency markets "will get rid of the weak hands that entered the sector between May and August." In addition, he thinks that if Bitcoin can hold above the psychologically important $ 10,000 level, it will show a rapid V-shaped recovery in the coming days.

Agree if the cryptoindustry did not havesuch analysts, experts, forecasters, then the space would be too pragmatic due to its fullness with speculators. And so these "forecasts", "calculations" and "research" create a kind of harmless variety.

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