A Bitcoin (BTC) price model that accurately predicted the cryptocurrency’s peak in 2021 at over $60,000 is now pointing to an unprecedented peak range near $732,000 per coin. Developed by Greg Cipolaro, this modified version of the Stock-To-Flow (S2F) model has gained attention for its past success.
Past Success of the Model
In 2019, the prevailing model for predicting Bitcoin’s future price was Plan B’s Stock-To-Flow (S2F) model. However, Greg Cipolaro’s modified version of the model proved to be far more accurate.
While Plan B’s model failed to bring the price per BTC above the projected $100,000 mark, Cipolaro’s model accurately predicted a peak range near $60,000. This track record lends credibility to Cipolaro’s latest prediction.
Predicting the Post-Halving Surge
Cipolaro’s model is based on the post-halving supply reduction price targets. The next Bitcoin halving is expected to occur in 2024, and according to Cipolaro’s model, this event could trigger a surge in Bitcoin’s price, potentially reaching an astonishing peak of $732,000 per coin.
Greg Cipolaro tweeted, “The model predicts a price of BTC of $60,592 after the May 2020 halving and $732,256 after the 2024 halving <eye monocle falls in fancy soup>.”
While this prediction may seem ambitious, it is important to consider Bitcoin’s history of surprising investors with its price volatility. In 2017 alone, Bitcoin experienced a surge of over 2,000%, even after already appreciating by over 400%.
Potential for Further Growth
The prediction of a $732,000 Bitcoin price after the 2024 halving is undeniably bold, but it cannot be dismissed outright considering the model’s past success.
However, it is crucial for investors to exercise caution and recognize that such a significant price increase is not guaranteed. Thorough research and informed decision-making based on individual risk tolerance and investment goals are essential.
While investors should approach this prediction with caution, the potential for further growth in Bitcoin’s price remains an intriguing possibility.