Popular blogger and analyst PlanB has announced the onset of a FOMO period—a bull market, according to his Stock-to-Flow model.
?RED DOT !!
Accumulation phase has ended: no more easy buying opportunities in orderly and slowly increasing markets.
Bull market has started. If history is any guide, we will see ~10 months of face melting fomo: extreme price pumps combined with multiple -30% drops. Enjoy!? pic.twitter.com/8MyZJUSUlb
— PlanB (@100trillionUSD) March 1, 2024
“The accumulation phase has ended: no more easy buying opportunities in orderly and slowly increasing markets. The bull market has started,” he wrote.
According to the expert, the digital asset market is expected to experience approximately 10 months of FOMO: “extreme price pumps combined with multiple 30% drops.”
Analysts at Bitfinex have set a conservative target for Bitcoin at a level between $100,000 and $120,000, which it is expected to reach by the fourth quarter of 2024, reports Cointelegraph. Experts believe the cycle peak will occur in 2025.
In early February, PlanB stated that following the upcoming halving, the first cryptocurrency will become scarcer than gold and real estate, suggesting it could reach $500,000.
Previously, Galaxy Digital CEO Mike Novogratz suggested a Bitcoin correction before it updates its historical high. He also noted the high level of leverage in the market.
Earlier, technical analyst and head of Factor LLC Peter Brandt raised his forecast for the digital gold price in 2025 from $120,000 to $200,000.