PlanB, the creator of the Stock-to-Flow (S2F) model, has offered a unique and somewhat calming prediction for Bitcoin's (<a href="https://www.cryptoknowmics.com/glossary#bitcoin">BTC</a>) future price. In a recent post, he asserted that Bitcoin will never dip below the $35,000 mark again. PlanB supported this claim with a chart, emphasizing the correlation between Bitcoin's price and its inherent hashrate. According to his analysis, factoring in possible black swan events or short-term volatility, and considering the fundamentals of $/kWh-arbitrage, the primary cryptocurrency's market value will not retract below the $35,000 support level.

[embed]https://twitter.com/100trillionUSD/status/1729194629785166214[/embed]
<h2>PlanB Envisions Bitcoin Arbitrage Boost Amid Market Volatility</h2>
In subsequent posts, PlanB elaborated on the arbitrage existing between <a href="https://www.cryptoknowmics.com/glossary#mining-">Bitcoin miners</a> acquiring the asset with electricity and users purchasing it with cash on exchanges. He suggested that this arbitrage might deepen with the introduction of a Bitcoin Exchange Traded Fund (ETF). Miners, armed with their unique market insights, could potentially charge a premium when selling the cryptocurrency. As a prominent figure in market analytics, PlanB has a track record of providing convincing predictions, particularly for Bitcoin. He considers a $100,000 Bitcoin price as a conservative estimate and has recently proposed a trading range of $65,000 to $524,000 for the digital currency.

This forecast from PlanB comes at a time when the market is grappling with a bearish trend, with Bitcoin currently trading at $37,106.80, reflecting a 1.07% decline in the past 24 hours. Despite the broader market downturn, the cryptocurrency's price appears to be holding above the $35,000 level, validating PlanB's predictions.
<h2>Bitcoin ETF Approval Hype Spurs Bullish Market Predictions</h2>
The ongoing anticipation for the approval of a Bitcoin spot Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC) adds another layer to the market dynamics. The high probability, pegged at 90%, of a Bitcoin ETF approval has fueled bullish forecasts, including predictions by Ark Invest's Cathie Wood, who envisions the potential for Bitcoin to surpass $600,000.

PlanB Asserts: Bitcoin Won't Dip Below $35K

Confident forecast: PlanB declares Bitcoin (BTC) won't drop below $35K again. Explore the reasoning behind this bold prediction. 📈 #Bitcoin #CryptoForecast

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

PlanB Asserts: Bitcoin Won't Dip Below $35K

Top Picks