Bitcoin To $5 Million? S2F Model Predicts When This Will Happen
February 01 2024 - 4:00PM
NEWSBTC
Using historical and future Bitcoin halving events, the Bitcoin
Stock to Flow (S2F) live data chart model has pointed toward a BTC
surge to unprecedented highs during the 2028 to 2032
halvings. Bitcoin To Hit $5 Million After 2028 Halving Crypto
analyst Bit Harington recently shared insights in a post on X
(formerly Twitter) about the potential surges in the price of
Bitcoin during the next halving stages. Using data from the Bitcoin
S2F chart, Harington predicted the price of Bitcoin would reach
$500,000 by the fourth halving, which is taking place in
April. Related Reading: Crypto Analyst Predicts Shiba Inu
Price To Surge Above $0.00001 His predictions were based on the
distinctive trend observed in BTC’s price, where the first to third
halving phases exhibited a consistent 10x price increase for each
successive halving. Responding to the post, the creator of
the S2F model, Plan B, made a bold prediction, suggesting that the
average price of Bitcoin during the 2028 and 2032 halving events
could potentially reach an impressive $5 million. The
cryptocurrency has consistently experienced bullish rallies
following each halving event, from the first Bitcoin halving in
November 2012 to the third in May 2020. Due to this, many investors
and crypto analysts foresee a similar surge in BTC’s price during
2024 halving. These expectations could be attributed to the
events that typically occur during a Bitcoin halving event. In each
halving phase, BTC mining rewards are cut in half, and the supply
of the token is reduced, thereby inducing scarcity and increasing
the token’s value. While these price projections about
Bitcoin are made to keep investors alert, it’s important to note
that they remain speculations, and models like S2F can be subject
to wide margins of error. BTC price struggles to hold $42,000
| Source: BTCUSD on Tradingview.com Analyst Reveals Key Factors To
Consider In 2024 Halving Another crypto analyst, Ali Martinez, has
disclosed four crucial factors to keep in mind as the 2024 April
Bitcoin halving approaches. Martinez highlighted the significance
of the post-halving price corrections in the 2016 and 2020 Bitcoin
halving, emphasizing that BTC declined by 30% to 70% within a month
after the halving phases. Related Reading: Analyst Compared
Solana To Ethereum ICO Boom, What Does This Mean For SOL Price? He
also mentioned BTC’s post-halving rallies, where the cryptocurrency
experienced significant surges to 700%, 2,850%, and 11,000%,
respectively, during the 2012, 2016, and 2020 halving events. The
crypto analyst delved into bull market durations after each
halving, which lasted about a year or more. He concluded his
analysis by predicting that the next Bitcoin market top would occur
around April or October 2025. At the time of writing, the price of
BTC was $42,110, according to CoinMarketCap. Featured image
from Dall.E, chart from Tradingview.com
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