Bitcoin Price Is Predicted To Increase 10 Times After Halving: Report

The prominent cryptocurrency analyst PlanB who is based in the Netherlands recently shared his outlook about the BTC price. As he said, the Bitcoin price is predicted to increase by 10 times after halving in a stock-to-flow model which will hold after the 2020 Bitcoin halving.

In the Bitcoin latest news, we can also see that the anonymous analyst believes that the price of Bitcoin (BTC) will skyrocket by a factor of ten in one or two years after the forthcoming halving. As he shared on Twitter:

IMO #bitcoin 2020 halving will be like 2012 & 2016. As per S2F model I expect 10x price (order of magnitude, not precise) 1-2 yrs after the halving. Halving will be make-or-break for S2F model. I hope this halving will teach us more about underlying fundamentals & network effects pic.twitter.com/kiTdN0n3Lu

— PlanB (@100trillionUSD) April 16, 2020

The viral S2F model also attempts to explain how BTC price growth is driven by the coin’s inherent scarcity. On March 1, we could see how many wrongly assumed that the price broke after the whole cryptocurrency market flopped.

Then, PlanB explained that the model was still valid since BTC stayed within its bands. The analyst is now ready to throw the model out of the window if the S2F price correlation does not hold post this halving, which is set to occur in just 25 days..

Another veteran trader named John Bollinger said that the Bitcoin price is predicted to go up – but argued that all correlations were going to one during the ‘black swan’ crisis. Plan B appears to be on the same page with him, saying that everything is correlated during the pandemic. However, he does not expect BTC to trade in lockstep with US stocks forever, and what comes next is where literally all of the fun begins.

During crisis everything is correlated. What's next is what's interesting. They will not be correlated forever IMO.

— PlanB (@100trillionUSD) April 16, 2020

For now, we can say that the cryptocurrency news are showing green and good movements of the market. Bitcoin (BTC) is now above $7,100 and the price is stable. In the Ethereum news, we can see that ETH is above $170 again and starting to write a new chapter in its 2020 history. XRP is preparing to breach the $0.19 levels and Bitcoin Cash (BCH) went above $234 again.

All in all, the market has added around $3 billion overnight and is now safe at the $203 billion mark, trading higher on another good day. If the bullish momentum sustains, we could eye a move above $210 billion and a price of Bitcoin approaching the $8,000 levels.