Bittime - Bitcoin (BTC) is the world's leading crypto asset, back in the spotlight. With the price currently hovering around $67,000 (as of March 18, 2024), speculation regarding Bitcoin's potential price increase is heating up. Well-known analysts and investors are busy issuing their predictions, presenting a diverse panorama of prospects for potential BTC buyers.
Buy BTC with Exponential Growth Potential, Bullish BTC Plan B Predictions
Amidst the frenzy of Bitcoin price predictions, Plan B, the architect of the BTC price prediction model known as S2F (Stock-to-Flow), expressed an optimistic view. According to him, Bitcoin's "exponential growth" is predicted to "continue."
Plan B, who is identical to his pseudonym on Twitter, believes that Bitcoin's price is currently still in the early phase of the bull run cycle. He based his predictions on the S2F model, which relates Bitcoin's value to its stock-to-flow ratio. The S2F graph shows an exponential growth trend consistent with Bitcoin's past performance.
"Bitcoin's realized price (cost basis) is increasing, but still very slowly (5-10% per month: green)," said Plan B on Sunday. He added, "The market is currently comparable to mid 2012, early 2017, October 2020 (green). Interesting times ahead."
Despite receiving criticism from several parties, including Bitcoin investors such as Fred Krueger who considers the S2F model "very wrong and should be discarded," Plan B remains steadfast in its beliefs. He even predicted ambitious Bitcoin price targets in the future:
- Stock-to-Flow halving cycle 2020-2024: ~$50,000
- Stock-to-Flow halving cycle 2024-2028: ~$500,000
- Stock-to-Flow halving cycle 2028-2032: ~$5 Million
This bullish Plan B prediction is certainly tempting for investors who want to taste the potential for big profits from Bitcoin. However, it is important to note that the S2F model has limitations and a wide margin of error.
Check Today's Crypto Market:
Possible Correction Before Increase, Right Timing to Buy BTC?
On the other hand, John Glover, former managing director at Barclays and currently chief investment officer at crypto lender Ledn, provided a more moderate view. He predicts the possibility of a Bitcoin price correction before it reaches its peak in this bull run.
"My view that the [Bitcoin] price is due for a correction appears to have riled some readers," Glover said in a statement. "It's important to note that while I believe that no price movement runs in a straight line, I'm still looking for $85-92K before this latest uptrend is complete."
Glover believes that this correction will be an opportunity for new investors to enter the Bitcoin market. He predicts that a wave of retail investors will start flocking to buy Bitcoin ETFs ahead of the next halving period, which is predicted to occur in 2024.
"Retail players are just starting to get into [Bitcoin] ETFs en masse and the next big entry will coincide with the halving, so things will get interesting in a month or so," Glover said.
BTC/USDT Bitcoin Price Today
Source: Bittime.com
On March 19, 2024, the price of Bitcoin BTC/USDT was at $65,008 per coin, down 4.38% in 24 hours.
Also Read How to Buy Crypto:
BTC Buying Strategy Predictions and Formulas
The varying predictions from Plan B and John Glover reflect the complexity of the Bitcoin market. For potential BTC buyers, it is important to consider various factors before making an investment decision.
First, it is important to understand that Bitcoin is a high-risk crypto asset . High price volatility is a characteristic of Bitcoin, and investors must be prepared for the possibility of experiencing losses.
Second, it is important to do in-depth research on Bitcoin and its underlying blockchain technology. Understanding how Bitcoin works and its future potential is key to making the right investment decisions.
Third, it is important to determine an investment strategy that suits the individual's risk profile and financial goals. Portfolio diversification with other assets also needs to be considered to minimize risk.
Fourth, it is important to keep up with the latest developments surrounding Bitcoin and the crypto market as a whole. News, analysis and predictions from experts can help investors understand trends and make the right decisions.
In the midst of mixed predictions and high market volatility, the decision to buy BTC should ultimately be based on careful financial research and planning. Buying BTC now can be a profitable move if based on a long-term view and the right investment strategy. However, it is important not to be lulled by bullish predictions and always be ready for potential price corrections.
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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El Salvador Strengthens Bitcoin Fortress: Physical Vaults Protect the Nation's Digital Assets
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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