Ethereum

2024

Bitcoin ETF

Bitcoin

<img width="1200" height="800" src="https://coingape.com/wp-content/uploads/2023/12/bitcoin-trading-volume-1-e1703804146984.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin Price Prediction For 2024 By S2F Model Creator PlanB" decoding="async" style="float:right; margin:0 0 10px 10px;">
Bitcoin soared about 8% to above $45,900 to kick off 2024, the highest level since March 2022. A relentlessly climbing trading volume for stablecoins Tether (USDT) and FDUSD indicates massive demand. Ethereum (ETH) also gained more than 6% to hit a high of $2,431. Crypto analysts are extensively bullish on <a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener">BTC price</a> to reach $50,000. 
<h2 id="bitcoin-price-prediction-by-planb">Bitcoin Price Prediction By PlanB</h2> 
Bitcoin stock-to-flow (S2F) model creator PlanB took to X (formerly Twitter) on January 1 to share his BTC price prediction for 2024. He said his recommendation for 2024 is similar to what he said a year ago when Bitcoin was trading near $20,000. 
He said BTC price will rise in response to the April 2024 <a href="https://coingape.com/glossary/bitcoin-halving/" target="_blank" rel="noopener">Bitcoin halving</a>. The halving will happen at block height 840,000, which is expected to happen on April 23 as per the <a href="https://coingape.com/halving/bitcoin-halving/" target="_blank" rel="noopener">Bitcoin halving countdown</a>. 
The S2F model predicts BTC price at $55,000 near the Bitcoin halving and pump after the halving event. Historically, BTC price witnessed a massive rally after each Bitcoin halving event. After the last halving in Mat 2020, Bitcoin rallied over 1200% in a year. 
He is confident that BTC price will hit $100k in 2024. <a href="https://coingape.com/bitcoin-to-hit-45k-in-2023-125k-by-2024-end-matrixport/" target="_blank" rel="noopener">Matrixport</a> and <a href="https://coingape.com/standard-chartered-maintains-100k-bitcoin-btc-target/" target="_blank" rel="noopener">Standard Chartered</a> predicted BTC price to rally over $120k by the end of the year. The S2F model even targets BTC price reaching $1 million at the end of 2025. 
Also Read: <a title="Binance Burns 5.57 Billion Terra Luna Classic, LUNC And USTC Prices Rise Over 7%" href="https://coingape.com/binance-burns-5-57-billion-terra-luna-classic-lunc-and-ustc-prices-rise-over-7/" target="_blank" rel="bookmark noopener">Binance Burns 5.57 Billion Terra Luna Classic, LUNC And USTC Prices Rise Over 7%</a> 
<h2 id="btc-price-starts-2024-with-a-bang">BTC Price Starts 2024 With a Bang</h2> 
Crypto analyst Michael van de Poppe expects a continuation of the upside trend toward $48-51K. There is a potential resistance there, anticipating huge volatility during the spot Bitcoin ETF approval window between January 5-10. 
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GC0jQDMWcAAFO_S?format=png&amp;name=4096x4096" alt="Image" width="760" height="408"> 
Skew added that Bitcoin price stalling since selling started in spot market. He eyes previous highs of $44.4K as the area to buy the dip. Some traders believe the market consensus for a long rally due to Bitcoin ETF is correct, but a sudden upside move could be a trap. 
Also Read: <a title="Crypto Market Rally: Here’s Why BTC, ETH, SOL, XRP, And Others Are Up Today" href="https://coingape.com/crypto-market-rally-heres-why-btc-eth-sol-xrp-and-others-are-up-today/" target="_blank" rel="bookmark noopener">Crypto Market Rally — Here’s Why BTC, ETH, SOL, XRP, And Others Are Up Today</a> 
The post <a href="https://coingape.com/bitcoin-price-prediction-for-2024-by-s2f-model-creator-planb/">Bitcoin Price Prediction For 2024 By S2F Model Creator PlanB</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin Price Prediction For 2024 By S2F Model Creator PlanB

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