PlanB, a popular cryptocurrency analyst and creator of the Stock-to-Flow model for predicting the bitcoin rate, believes that the first cryptocurrency could reach $ 500,000 as early as next year.
During a podcast with Blockware Solutions’ lead analyst Will Clemente III, PlanB noted that Bitcoin is currently only in the middle of another bullish cycle and could rise significantly from current values. He stressed that often the sharpest and most significant growth occurs at the very end of the cycle.
PlanB believes the cryptocurrency market will continue to grow for another 3-6 months. By the end of November, the BTC rate may reach $ 98,000, and in December the first cryptocurrency will overcome the $ 135,000 mark.
“I would not be particularly surprised if bitcoin costs $ 500,000 early next year,” the analyst said.
Last night, the rate of the first cryptocurrency once again renewed its all-time high and reached $ 69,000. PlanB wrote on his Twitter account that Bitcoin continues to follow the Stock-to-Flow pattern like clockwork. According to the chart, the bitcoin rate will reach $ 1 million within five years. True, the analyst expects some consolidation of the market in the coming years.
Recently, analysts at JPMorgan Bank noted that Bitcoin growth is quite possible, but buying a coin at current price levels is not very attractive.