More

    Bitcoin Price Will Be Over $100,000 Before Dec 2021, Says Prominent Analyst

    Currently, Bitcoin is trading around $9,915 with 24 hours loss of 1.3%, as per Coincodex.

    In the short term, the leading cryptocurrency might be going downwards, but a new high of five figure seems to be imminent.

    According to prominent analyst PlanB, who is known for his stock-to-flow approach to Bitcoin price predicted one BTC’s value to reach beyond $100k before December 2021 as bitcoin price and stock-to-flow are cointegrated.

    Though he didn’t calculate the exact time if BTC is less than $100k around that time, “it becomes non-stationary,” he said.

    This is the only prediction he makes from the S2F model.

    Stock to flow ratio of an asset is defined as the amount of commodities held in inventories relative to its annual supply.

    It is basically a measure of abundance with gold having the highest stock to flow rate of all commodities.

    Bitcoin currently has an SF of 25 that will double with next reward halving — just about 7 months away — and reach very close to gold’s 62.

    $100k may seem like a big number, although validated by PlanB’s stock-to-flow model it’s not the wildest one.

    Most recently, investor Tim Draper predicted that over the next four years, Bitcoin will record huge price gains, growing more than 25 times by 2023.

    Draper is steadfast on his $250,000 prediction for BTC but now feels this number might even be an underestimated figure, after all.

    “$250,000 means that bitcoin would then have about a 5 per cent market share of the currency world and I think that may be understating the power of bitcoin,”

    he said.

    Meanwhile, crypto proponent and computer programmer John McAfee stands by his million dollar prediction as well.

    But McAfee is not alone in this 1 million projection, a number of other experts support this figure. PlanB himself has called out that BTC would shoot past this target in its coming years.

    Further, in the future, hyperbitcoiniztion, instead of Bitcoin’s value in US dollars, we could see other commodities being valued in BTC.

    Interestingly, there are currently 16,772 addresses that contain over $1 million worth of Bitcoin.

    With only 21 million BTC out there, the number of Bitcoin millionaires are limited and with that in mind, the current drop in value BTC is seeing looks the perfect opportunity to buy Bitcoin at a discount.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$6,796.2558 change ~ -0.87%

    Coin Market Cap

    $124.42 Billion

    24 Hour Volume

    $5.37 Billion

    24 Hour VWAP

    $6.8 K

    24 Hour Change

    $-58.8455

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,366FansLike
    2,784FollowersFollow
    4,136FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    General Motors (GM) Files Blockchain-Based Map Network Patent for Autonomous Vehicles

    General Motors (GM) plans to build a self-updating navigation system on blockchain to allow use across “specific roads” on autonomous vehicles. In a newly...

    BTC Proposes a Greater Value Than Gold; $670M Transferred For 26 Cents Within Its Network

    Bitcoin’s value proposition in fund transfers is so far one of the most cost-friendly avenues to send money globally. A recent transaction within its...

    COVID-19's Impact On The Economy Claims Another Business as Cambrial Capital to Shut Down

    Cambrial Capital which focuses on a Crypto fund of funds is set to shut down its operations in the near future according to insiders...

    Apple’s New Intelligent Prevention Tracking (ITP) on iOS Threatens Burner Wallets Existence

    Apple’s recent upgrade on the Safari WebKit might soon phase out the convenience of burner wallets within the cryptocurrency space for its users. ...

    Galaxy Digital's Mike Novogratz: This Is The Year For BTC Or I Might ‘Hang Up My Spurs'

    Bitcoin proponent, Mike Novogratz is still “most excited” about the world's leading cryptocurrency but “if it doesn't go all out by the end of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.