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“Despite Bitcoin’s struggle to maintain its position above $30,000, historical on-chain activities and empirical data suggest bear market days are behind us. Long-term holders remain unscathed, while short-term counterparts pose a risk by selling. PlanB’s Stock-to-Flow model maintains firm traction within the community, suggesting positive price implications post Bitcoin’s halving.”

The recent 19.04% surge in Bitcoin price has brought hope to investors, as the cryptocurrency stabilizes around $29,000-$30,000 range. Key factors driving growth include Tether Holdings announcing Bitcoin mining investment plans, potential approval of a Bitcoin ETF, and the upcoming Bitcoin Halving event.

PlanB, creator of the Stock-2-Flow (S2F) model, suggests investors might be “front-running the halving” in anticipation of Bitcoin’s value increase. The next halving is expected in April next year, and historically, such events have often driven significant price growth.

As Bitcoin nears the 2024 block subsidy halving, some experts deem it “buy the dip” territory, expecting price patterns to resemble previous halving cycles. However, the relationship between halvings and price remains debated, highlighting the uncertainties in predicting Bitcoin’s future.