🚀 Crypto Bitcoin Pops To New $77,200 Record High As Analyst PlanB Foresees Epic Path To $500,000

[Undefeated_Lamba]

Renowned crypto analyst and creator of the stock-to-flow model has issued an extraordinarily rosy prediction regarding Bitcoin’s future price prospects, estimating that the alpha crypto is poised to balloon to $500,000 heights within the next four-year cycle based on the model’s historical pattern.

PlanB’s prognostication came as BTC crossed the $77,000 mark for the first time following Donald Trump’s election win and the Federal Reserve’s rate cut on Thursday.

PlanB’s Bullish Bitcoin Outlook​

In a recent video update, pseudonymous analyst PlanB told his YouTube subscribers that his popular stock-to-flow model suggests that Bitcoin could exceed $500,000 in this cycle.

“So basically, we broke the month-long trading range where Bitcoin moved between $60,000 and $70,000… If history is any guide, if the stock-to-flow model is any guide, then we’ll see sharp price increases from here.”

Although PlanB expects the BTC price to hit $500,000 in this cycle, he mentions a wide range between $250,000 and $1,000,000.

BTC has added a measly 0.7% in the last 24 hours and is about 1.2% below its all-time high of over $77K. Much of Bitcoin’s bullish momentum stems from Republican Donald Trump’s win in Tuesday’s U.S. presidential election.

Trump, who made a slew of crypto-related commitments before his election, has retaken the White House. So far, his policy proposals include making the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world,” creating a strategic Bitcoin reserve, and firing the anti-crypto SEC Chair Gary Gensler.

PlanB cited Trump’s proposal to establish a national BTC reserve as a potential catalyst for demand. In particular, he suggests that the U.S. could add “200,000 BTCs per year” in buying pressure.

All eyes are now on how Trump’s crypto stance could reshape the market.

More Bullish Predictions​

Speaking to CNBC’s Power Lunch on Friday, Jan Van Eck also predicted that the price of Bitcoin was headed to new highs. Indeed, BTC eked out a new record price of $77,239 yesterday. Bitcoin’s new record high marks a powerful breakout from its grueling, eight-month consolidation period, which tested crypto investors’ patience. When asked if he thought Bitcoin was going to $100,000, the pundit suggested that the largest and oldest crypto asset has more room to run:

“My basic premise is ultimately Bitcoin’s value will be half of that of all the gold outstanding so you’re talking about something like $300,000 for Bitcoin.”

The Van Eck boss didn’t clarify the rationale behind his “half of … all the gold outstanding” view but said he believes it was a “reasonable base assumption,” adding that Bitcoin is “digital gold” to him.

Furthermore, the huge inflows into the 11 U.S.-listed spot BTC exchange-traded funds (ETFs) since Trump’s victory signify the benchmark crypto may have entered the most explosive phase of the market cycle.