PlanB, the creator of the bitcoin stock-to-flow (S2F) price prediction model that sees the leading crypto skyrocketing to $288,000 by 2024, has reminded investors in a tweet that “patience is a virtue.”
The influential analyst said, “Reminder: we are still early, only 4 months after #bitcoin 2020 halving, nicely between 2012 and 2016 paths.”
By this he means Bitcoin (BTC) is charting its way directly between the previous two block subsidy halvings that sent its price soaring higher..
Despite bouncing near $11,000 support on Wednesday, the leading crypto has performed exactly as PlanB said it would on monthly timeframes since its last halving event in May, its third since it was unleashed on the world by the mysterious Satoshi Nakamoto in 2008.
Failure to break and secure $12,000 as support has characterized its price action since, but clear progress can be seen on the monthly chart.
PlanB also pointed out that contrary to the expectations of some analysts, the current bull cycle might not be longer than previous ones.
He tweeted, “[The] current cycle seems faster (still early though). Also, S2FX model is made not only on past 3 BTC cycles, but also silver, gold, diamonds and real estate. So, I am not uncertain that the longer & lower cycles theory is just wrong.”
On Tuesday, PlanB tweeted that his S2F bitcoin price model was “like clockwork.”