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⚡PlanB Predicts $100K Average Price by 2024☘️

Croxroad

25 Nov 2023 — 4 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

💤 PlanB's Call to Action

In this article, PlanB, a well-known figure in the cryptocurrency industry, is suggesting that Bitcoin (BTC) is currently in a phase before a significant bullish market movement. The current price of Bitcoin is mentioned as $37,771, and PlanB indicates that buyers should take advantage of the opportunity to add to their Bitcoin holdings while the price is below $40,000.

PlanB, who is the creator of the stock-to-flow family of Bitcoin price models, believes that Bitcoin is destined to reach much higher prices than its recent 18-month highs. He emphasises the idea that time is running out for investors to increase their exposure to Bitcoin below the $40,000 mark.

To support his optimistic outlook, PlanB references realised price data. Realised price in the context of Bitcoin is the total price at which all BTC last moved, divided by the current supply. Currently, the realised price is just below $21,000. PlanB suggests that historical patterns indicate that Bitcoin tends to enter bull markets when the spot price crosses certain realised price levels. In this case, BTC/USD is reported to be above all three realised price iterations.

PlanB concludes with the advice to "enjoy sub-$40k bitcoin while it lasts," accompanied by a chart illustrating the realised price of Bitcoin.

When asked about the possibility of the market experiencing lower levels from this point, PlanB does not provide a direct answer but expresses expectations of an average BTC price of at least $100,000 between 2024 and 2028, which corresponds to Bitcoin's next halving cycle.

The article also mentions that, despite previous criticisms of PlanB's stock-to-flow model and acknowledgment that Bitcoin didn't meet expectations during the 2021 bull market, predictions of Bitcoin reaching six figures in the next cycle are becoming more common. The focus for the end of 2025 is suggested to be around $130,000.

The article notes that Bitcoin's halving, scheduled for April 2024, is expected to lead to a return to around $46,000, according to further analysis. PlanB has recently described Bitcoin as being in a "pre-bull market" phase, suggesting that the real upward movement is yet to come.

🚙 The Amazing Journey of La Bitcoineta

Embark on an enlightening journey with La Bitcoineta, a mobile education unit championing financial sovereignty and Bitcoin awareness. This captivating article unfolds a conversation with Ariel and BitcoinShagga, chronicling their mission from Latin America to Europe. La Bitcoineta's odyssey transcends geographical boundaries and cultural landscapes, fostering awareness about digital currency, financial sovereignty, and the transformative potential of decentralised technologies.

In Latin America, La Bitcoineta emerged as a mobile hub of information, navigating through diverse cultures and economic disparities to demystify Bitcoin and blockchain technology. As the wheels of La Bitcoineta rolled into Europe, the project encountered new layers of cultural nuances, sparking dialogues on Bitcoin's role as a hedge against inflation and a tool for preserving financial privacy.

La Bitcoineta's journey goes beyond borders, catalysing collaborations and initiatives globally. From partnerships with local businesses and grassroots organisations in Latin America to engagements with blockchain communities and educational institutions in Europe, the project became a catalyst for fostering a deeper understanding of Bitcoin's potential as a catalyst for financial sovereignty.

Despite encountering scepticism along the way, La Bitcoineta's success stories highlight the tangible impact of decentralised currencies on individuals and communities. From transforming local businesses in Latin America to contributing to academic discourse in Europe, the project's expedition echoes a broader theme—the global awakening to the possibilities of a decentralised financial future.

As La Bitcoineta envisions expanding its outreach further, this shared voyage towards a decentralised and inclusive financial landscape invites individuals and organisations to contribute actively to spreading Bitcoin education and empowerment. Join the 'Croxroad' podcast to delve into these exciting stories and explore the possibilities of a decentralised financial future. New episode is out.

🤹 Puell Multiple

The Puell Multiple is a cryptocurrency metric that helps gauge the relative value of new bitcoins being mined. It's calculated by dividing the daily issuance value of bitcoins (in USD) by the 365-day moving average of the daily issuance value. In simpler terms, it gives an idea of how profitable it is for miners to create new bitcoins. When the Puell Multiple is high, it suggests that miners might be selling a larger portion of their newly minted bitcoins, potentially signalling a market top. Conversely, a low Puell Multiple could indicate that miners are holding onto their newly mined bitcoins, which may suggest a more favourable market condition. It's just one of many tools analysts use to understand trends and potential turning points in the cryptocurrency market.