- PlanB @100trillionUSD tweeted bullish sentiments on Bitcoin for 2024.
- The crypto personality claims that BTC will reach $100,000 by 2024.
- He also answers questions regarding Marc van der Chijs’ stance on the Bitcoin halving.
Prominent crypto personality and former institutional investor PlanB @100trillionUSD tweeted his high hopes about Bitcoin for the year 2024. PlanB claims that Bitcoin will reach $100,000 by 2024, citing the halving of the currency. He specifically mentions how previous halvings have always resulted in a currency pump.
A curious Twitter user inquired about PlanB’s take on Marc van der Chijs’ opposing views on the impact of Bitcoin halving. PlanB emphasized how halving Bitcoin is important not only technically, but also psychologically, as investors would see BTC scarcity doubling. Additionally, PlanB noted how he predicts the next halving would have a larger impact as the last bull market was “sabotaged by covid/china/war.”
Yes I also value Marc’s insights. On this issue our insights differ. I think the halving will have a large impact on price, especially since last bull market was sabotaged by covid/china/war. Halvings are huge non-linear (!) events for bitcoin production, scarcity and security.
Notably, in a December 30, 2021 blog post, Chijs used PlanB’s model as an example of how on-chain data on Bitcoin might not be the most reliable model anymore. Specifically, Chijs pointed out how PlanB’s prediction of $100K in Q4 2021 completely missed its mark because it solely focused on on-chain data without considering derivative positions.
Having said that, Chijs maintains a very bullish stance on Bitcoin and believes that the Bitcoin halving will have an impact, but it will be far less than what people expect. In a blog post published on September 5, 2022, he still recommends investing in Bitcoin because it should outperform most asset classes in the long run (2-3 years).