Quant Analyst PlanB Predicts Bitcoin (BTC) Will Double in Value by End of Year

Quant analyst PlanB is predicting a big move for Bitcoin (BTC) will unfold by the end of this year, based on several indicators.

Popular quant analyst PlanB is predicting a huge move for Bitcoin (BTC) by the end of the year, based on several indicators.

The analyst tells his nearly 2 million followers on the social media platform X that he’s keeping a close eye on Bitcoin’s miner revenue metric.

PlanB’s chart suggests that historically, BTC goes on parabolic price run-ups after miner revenue bottoms shortly after halvings, represented by the dark red dots.

Based on the correlation between price and miner revenue, PlanB says BTC is set to double in price between now and late December.

“Miner revenue bottomed after April 2024 halving.

I expect bitcoin price to double from today in 3-5 months.”

Last week, speaking at the Bitcoin 2024 Conference, Republican Senator Cynthia Lummis of Wyoming announced that she would introduce a bill to establish a BTC reserve as a means of securing the value of the US dollar amid record-breaking national debt.

Shortly before, Republican nominee and former president Donald Trump said under his administration, the US would stop selling its trove of seized Bitcoin on the open market and instead strategically hold the asset as an investment.

With the latest developments, PlanB says BTC has reached the “nation-state adoption” phase. He shares a chart using his trademark stock-to-flow (S2F) model, a type of analysis originally created for commodities that PlanB later adapted for Bitcoin which measures how scarce an asset is.

“Phase 5: nation-state adoption … are you ready?”

At time of writing, Bitcoin is trading at $66,789.

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