Monday, December 6

Strong expectation: does Bitcoin have a chance of reaching $ 100,000 by the end of the year?


Meanwhile, 31.4% of the voters who participated in the survey that Plan B launched in Twitter, They believe that the price of the cryptocurrency could reach US $ 288,000, while 23.8% believe that BTC will remain below US $ 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 his prediction, because it has done so many times before.

Embed

Contrary to the expectations of many, the price of BTC often spiked almost exactly to the amount forecasted around the analyst’s forecast date. 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 US $ 135,000 before the end of the year.

The prediction model of Plan B is based on the correlation of the stock or quantity of assets currently available, with the flow or quantity of bitcoins mined annually, and with it projects where the price of the cryptocurrency can go. 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 graph with version 2.0 of his predictive scheme. It is Stock to Flow Cross Asset (S2FX) from which a price of $ 288,000 arises for the next cycle. Plan B and fellow analyst Willy Woo recently agreed in an interview, where both are equally optimistic about the future price of the cryptocurrency.

Woo said at the 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.

Nevertheless, Plan B does not rule out that, within each new cycle, price corrections of the order of 50% or up to 80% may occur again. “Volatility is a characteristic of Bitcoin that you always have to consider and that no other market possesses,” he noted.



www.ambito.com

Leave a Reply

Your email address will not be published. Required fields are marked *