PlanB: “Bitcoin prepares for a 5800% rally”

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A popular cryptocurrency analyst under the pseudonym PlanB, the author of the stock-to-flow model, once again emphasized his confidence in the large-scale growth of Bitcoin in 2023 or at least in 2024.

The stock-to-flow model is based on the ratio of the quantity of an asset available to its price.Given that Bitcoin periodically undergoes halvings, the model speaks of a large-scale growth of the first cryptocurrency.The analyst stressed that he is confident in this model, which may not work only if "bitcoin just dies."

"If we assume that the model is correct, then, given the bitcoin rate in 2019 around $55,000 , we will see growth in the next halving.I'm taking a very wide range, although a lot of people don't like it, but bitcoin willI'm sure of that, so the current BTC prices are just very profitable," PlanB said during an interview with analyst Scott Melker.

As for the short term, according to PlanB, bitcoin will reachThe analyst makes his conclusionsBased on the previous cycles of the rise and fall of the first cryptocurrency.

Earlier, analysts at the Coinbase cryptocurrency exchange warned that due to the collapse of the Terra ecosystem and the bankruptcy of the FTX exchange, the crisis in the cryptocurrency market could last until the end of 2023.