Bitcoin (BTC) marking a new high of $67,000 last week has opened the possibility of hitting $100,000 past the end of this year.

PlanB, creator of the pop Bitcoin Stock-to-Menstruum (S2F) model, chosen Bitcoin's price retracement from the $threescore,000-level the "2nd leg" of what appeared like a long-term bull market place.

In doing so, the pseudonymous annotator cited S2F, which anticipates Bitcoin to continue its leg higher and accomplish $100,000 to $135,000 by the end of the twelvemonth.

The cost projection model insists that Bitcoin's value volition keep on growing until at to the lowest degree $288,000 per token due to the "halving," an event that takes identify every 4 years and reduces BTC'south issuance charge per unit by half against its 21 million supply cap.

Bitcoin afterwards the 2022, 2022 and 2022 halving. Source: PlanB

Notably, Bitcoin has undergone three halvings and so far: in 2022, 2022 and 2022.

Each event decreased the cryptocurrency's new supply rate by fifty%, which was followed by notable increases in BTC price. For case, the starting time ii halvings prompted BTC toll to rising by over 10,000% and ii,960%, respectively.

The third halving caused the price to bound from $8,787 to as high as $66,999, a 667.fifty% increment. Then far, S2F has been largely accurate in predicting Bitcoin's price trajectory, equally shown in the chart below, leaving bulls with higher hopes that Bitcoin's post-halving rally volition have its toll cantankerous the $100,000 mark.

Bitcoin S2F as of October. 26. Source: PlanB

PlanB noted earlier this year that Bitcoin will attain $98,000 by Nov and $135,000 by December, adding that the only thing that would stop the cryptocurrency from striking a vi-digit value is "a black swan effect" that the market has non seen in the last decade.

An 80% crash after

Despite the high toll projections, Bitcoin can however see big corrections in the future. PlanB thinks the next crash could wipe at to the lowest degree 80% off Bitcoin's market capitalization, based on the same S2F model.

Related: COVID-nineteen vaccine will spark Bitcoin 'crash' — Rich Dad Poor Dad author

"Everybody hopes for the supercycle or the 'hyperbitcoinization' to start right now and that we exercise not have a big crash after side by side all-time highs," the annotator told theUnchained podcast, calculation.

"Every bit much as I would promise that were true, that we don't encounter that crash anymore, I recollect we will. [...] I call up we'll exist managed by greed right at present and fright afterward on and see another minus 80% afterwards nosotros pinnacle out at a couple hundred thousand dollars."
BTC/USD daily price chart. Source: TradingView

But not everyone thinks the side by side correction will be equally dramatic every bit the previous ones. Dan Morehead, CEO of Pantera Majuscule, said in mid-October that the adjacent Bitcoin cost drop volition exist less than fourscore%, citing a consistent drib in selling sentiment afterwards each halving wheel.

Terminal week, Bitcoin established a new tape high at around $67,000 post-obit a 53% rally in October and then far. But the new highs prompted profit-taking among traders, resulting in retests of the $60,000 support level.

The views and opinions expressed here are solely those of the writer and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading movement involves chance, you should conduct your ain enquiry when making a determination.