Crypto Expert Says Bitcoin Is ‘Very Undervalued,’ Predicts 860% Surge This Cycle

PlanB emphasized that Bitcoin is still in the early stages of its four-year market cycle, and far from reaching its projected peak based on his widely followed stock-to-flow (S2F) model.

“Bitcoin price [is] at $104,000, which is still far away from the stock-to-flow value of $500,000 based on fundamentals,” he said. “That’s what I expect the average over this four-year cycle to be… we have three years to go.”

Bull Market Just Getting Started

PlanB believes BTC is at the very beginning of a new bull market, pointing to historical patterns and the January 2024 launch of U.S. spot Bitcoin ETFs as key markers. He described the brief price spike after the ETF introductions as a “fake loop” that ultimately reset Bitcoin’s trajectory to resemble previous bull market starting points.

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“We’re now right back at where all the bull markets in the past have started,” he noted. “So it’s a very bullish signal if you ask me.

Price Targets: $250K to $1 Million

The stock-to-flow model, which measures Bitcoin’s scarcity against its issuance rate, remains central to PlanB’s analysis. He estimates Bitcoin’s average price during the current cycle could land anywhere between $250,000 and $1 million, representing a potential upside of up to 860% from current levels.

With three years remaining in the cycle, PlanB’s outlook paints a picture of long-term strength—even as short-term price action remains volatile and range-bound.

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