After the FED announced its interest rate decision yesterday evening, Bitcoin recovered and rose above $29,000.
While investors were waiting for higher levels to come from BTC as the BTC halving approaches, a new share came from Plan B, which developed the S2F model.
Stating that BTC is approaching the halving, PlanB claimed that Bitcoin can enter the halving event at $ 66,000.
Sharing a table showing the price that BTC should be according to the S2F model, Plan B stated that the BTC price is shown in blue in the halving event.
The deep bear market and bankruptcies in 2022 caused the Bitcoin price to move away from the S2F model.
Plan B said that there were similar deviations in other years, but the BTC price rebounded to its value in the S2F model at the time of the halving in Bitcoin.
Accordingly, the price of BTC determined according to the S2F model and its price at halving times overlap.
If history repeats itself, it is possible that the next halving of BTC will take place in March-April 2024, when the BTC price will increase to $ 66,000, the blue indicator in the model will light up, and BTC will rise to $ 100,000 after the halving.
“Bitcoin is approaching halving (April 2024).
Did you notice that the halvings (dark blue) usually coincide with the price determined by the S2F model, i.e. in the S2F model line (grey)?"
A user commented on Plan B's post that Bitcoin could be $100,000 until the next halving. Plan B told the comment that BTC could be at $66,000 by the next halving.
👀blue …
bitcoin getting closer to the halving (April 2024).
did you notice that halvings (dark blue) are usually on S2F model line (grey) … pic.twitter.com/oWPv13dHie— PlanB (@100trillionUSD) May 4, 2023
*Not investment advice.
