More

    Popular Analyst PlanB says Bitcoin will “Overshoot $100,000” by Dec. 2021

    • S2F predicts $100k May 2020-2024 average
    • $50k is a “more conservative” figure, Bitcoin price will be above and below $100k but will always go back to the S2F model line, “like the drunk and his dog”

    Bitcoin is having a good year having spiked over 33% in 2020 to date. We are currently trading near $9,850, very close to touching the $10,000 level.

    Arcane Research points out how the historical trend predicts $11,900 as the BTC value, meaning we are still 20% away from that. However, the popular stock-to-flow model is almost aligned with the current price.

    Although the long-term growth trend targets a way lower price of around $13,000, the S2F model predicts bitcoin price at about $100,000.

    $100k is May 2020-2024 average

    Popular analyst PlanB who first used the Stock-to-flow model to determine BTC price says people misunderstand that the S2F model predicts BTC price at $100,000 by May 2020, the month of bitcoin reward halving.

    Previously, on a podcast, PlanB said this new all-time high which will be 400% higher than the 2017 bull run at $20,000 is expected to hit by Dec. 2021.

    S2F actually “predicts $100k May 2020-2024 average, like the chart shows,” clarifies PlanB.

    2020-2024 will be basically on average $100k in the same way 2016-2020 was on average $8,000.

    BTC price follows S2F model like the drunk and his dog

    In a Tweet, he further clarified how the first article he wrote in early 2019, the price predicted was $55,000. “The original model on monthly data (Mar22) says $55k, but a new model on yearly data $100k. Your choice,” explained the analyst.

    $50k is a “more conservative” figure for the price but in his personal opinion, PlanB believes “We will overshoot $100k (and undershoot after ath).” Bitcoin price will basically be above and below this level but always eventually will go back to the S2F model line, “like the drunk and his dog,” he said.

    And If Bitcoin is unable to do that, the analyst said, the model will be false.

    USD will be the one that will fail

    If the Bitcoin price’s cointegration breaks with the S2F model, the model will be falsified, however, PlanB says it’s hard to predict when that will be the case. Dec 2021 he said, “is an estimate (for easy communication) (…) until something better comes along.”

    “Eventually all models are replaced by better ones,” but the analyst believes it would be the fiat, US dollar that will fail as “it makes no sense to have Zimbabwe like debasement risk in a next gen global economy.”

    “Zero flow and infinite S2F/value is in 2140 .. in 120 years. Long before that, USD will break (model is BTCUSD). Also, I would be happy if the model predict next 1, 2 maybe 3 halvings (i.e. 10 yrs),” he further explained.

    So, Bitcoin is just getting started and it’s not too late to jump on the BTC train as we have a really long way to go.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$9,774.6447 change ~ 1.81%

    Coin Market Cap

    $178.19 Billion

    24 Hour Volume

    $5.3 Billion

    24 Hour VWAP

    $9.63 K

    24 Hour Change

    $176.5146

    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

    3,287FansLike
    2,765FollowersFollow
    4,135FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Litecoin (LTC) Price Analysis (February 21)

    • Moment to buy, not short! may reverse to the top of the channel soon. • Bulls are returning back gradually. LTC/USD Medium-term Trend: Bullish • Resistance...

    Bitcoin Cash Dev Proposes ‘BCH Node' To Avoid An Unwanted Chain Split, Roger Ver On Board

    The Bitcoin Cash (BCH) client upgrade scheduled for May, 2020 has raised heated arguments on some of its aspects. However, one BTC developer on...

    PAX Stablecoin Issuer Paxos Settles First US Equity Trade Using Blockchain

    The first blockchain-based settlement of US equities was claimed by Paxos, the New York-regulated cryptocurrency startup, Instinet, the broker dealer owned by Nomura, and...

    Ripple (XRP) Price Analysis (February 20)

    Key Highlights XRP's price strength has once again overpowered by the US dollar market worth. A fiercely breakthrough of a $0.30 mark will portend...

    Sweden's Riksbank Launches Its Central Bank Digital Currency (e-Krona) Testing

    Sweden is getting closer and closer to issuing its own central bank digital currency (CBDC), as it already started testing the e-krona. The pilot program...

    Australia’s National Stock Exchange Is Building A DLT-Based Real-Time Trading Platform

    Both companies listed publicly, NSX Ltd., which is the owner of the National Stock Exchange of Australia, and the financial institution known as iSignthis...

    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.