“Enjoy Sub-$40,000 Bitcoin, While It Lasts,” Analyst Says

Key Insights

• Bitcoin has been trading in a tight range around $38,000 for the past month.
• Analysts believe that Bitcoin could break out of this range and reach $40,000 soon.
• PlanB, the creator of the Bitcoin stock-to-flow model, believes that BTC could reach $100,000 between 2024 and 2028.
• PlanB believes that Bitcoin is currently in a “pre-bull market” phase and that investors should enjoy the opportunity to buy BTC below $40,000.
• Bitcoin is expected to remain in the $32,000 to $64,000 range until the April 2024 halving.

BTC has had one heck of a dance under $38,000 for the past month. Analysts, everywhere seem to agree that the $40,000 zone may not be very far behind.

Almost every analyst, except PlanB, the creator of the stock-to-flow BTC price models

According to a recent tweet from the analyst, Investors should “enjoy BTC under $40,000 ‘while it lasts’”.

$40k Is Temporary, Expect $100k Bitcoin

Did we mention that the trader, PlanB, is the creator of the BTC stock-to-flow model (S2F)?

PlanB has been applying this model to BTC since 2019, and (appears) to be a very profitable trader.

According to a recent post on Twitter (X), the analyst has advised his 1.8 million followers to “enjoy sub-$40k BTC… While it lasts”

PlanB stated in another tweet, that BTC appears to be in in its “pre-bull market” phase.

In essence, the analyst is hinting that BTC buyers should enjoy the chance to add to their stack below $40,000. This is because according to the previous tweet, BTC is expected to gravitate towards the $100,000 zone between 2024 and 2028.

Under the original tweet, PlanB also mentioned that he expects BTC to stay “in the $32k-$64k range during the pre-bull market (until the halving)”.

Overall, BTC’s price action over the next few months before the April 2024 halving remains to be seen.

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