Friday, December 3

Bitcoin price to jump above 60%, predicts Plan B


Bitcoin (BTC) hit a new all-time high of $ 68,641 today, which appears to be good news for analyst Plan B and its prediction model. Stock To Flow (S2F), under which he estimates that the cryptocurrency will cost $ 98,000 before the end of November. Although not all his followers believe in his data, others show more confidence and invite him to predict the price of other markets, something to which the researcher refuses.

Plan B declared himself an analyst only of BTC and in that sense refuses to apply its S2F model to predict the price of other cryptocurrencies or tokens, ¬ęBecause it does not apply to shitcoins“, such as wrote and Twitter.

However, not everyone believes his predictions as revealed by a recent poll in which his followers cast 242,000 votes and where Only 39.8% believe that BTC will reach $ 100,000 by the end of the year.

Meanwhile, 31.4% of the voters who participated in the poll that Plan B launched on Twitter, they believe that the price of the cryptocurrency could reach $ 288,000, while 23.8% think that BTC will remain below $ 100,000.

After losing the confidence of its audience, last June, due to the strong price corrections suffered by the first of the cryptocurrencies during the year, the public seems to be attentive about the estimates of Plan B in recent months. The analyst assures that the price of bitcoin will jump to fulfill its prediction, because it has done so many times before.

Interestingly, the model has almost always been right up to now, although it has been unattainable at times. Contrary to the expectations of many, the price of BTC often shot up almost exactly to the predicted amount around the date predicted by the analyst.

Analyst Plan B showed on a chart that the price of bitcoin has jumped above 60% on several occasions throughout its history. Source: @100trillionUSD / twitter.com

However, this time, bitcoin still has to add $ 30,000 to reach the $ 98,000 estimated by Plan B for the month of November, which is 21 days away. After that, he believes that, in December, the value of the cryptocurrency will continue to rise to reach $ 135,000 before the end of the year, as already reviewed by CriptoNoticias months ago.

The Plan B prediction model is based on the correlation of the stock or the amount of assets currently available, with the flow or amount of bitcoins mined annually, and with it projects where the price of the cryptocurrency can go.

In 2022 bitcoin will need fireworks

The S2F model is indeed mega bullish for the remainder of the year, but even so Plan B estimates are extremely positive for next year.

“We need some real fireworks in 2022,” he said in a tweet in which he shared a graphic with version 2.0 of his predictive scheme. Is about Stock to Flow Cross Asset (S2FX) from which a price of USD 288,000 arises for the next cycle.

model-S2FX-plan-b-bitocin-2022
Plan B uses its S2FX model to project a bitcoin price above $ 288,000 by 2022. @100trillionUSD / twitter.com

In a publication of Medium, the analyst explains that uses its S2FX model to estimate the market value of bitcoin for the next phase, which would last until 2024. “I solidify the base of the current S2F model by taking time away and adding other assets, such as silver and gold, to the model,” as he explains.

So, based on this cross-asset formula with BTC, he gets a cryptocurrency price projection that he calls “a new way of thinking about bitcoin’s transition to phase five.”

In fact, Plan B and fellow analyst Willy Woo recently agreed on a interview, where Both are equally optimistic about the future price of the cryptocurrency.

Woo said at that time that bitcoin has a 4-year cycle as if it were a planet with an orbit that is fulfilled in that period, but that this time all forces come together so that the cryptocurrency is released from its internal gravity, so its price will flow.

However, Plan B does not rule out that, within each new cycle, corrections will occur again of the price in the order of 50% or up to 80%. “Volatility is a characteristic of bitcoin that you always have to consider and that no other market has,” he said.





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