$532,000 Bitcoin (BTC) Price On The Horizon, Quant Analyst PlanB Predicts – Here’s His Timeline
Widely followed quantitative analyst PlanB believes that next year’s Bitcoin (BTC) halving is likely to send the crypto king to new records.
The Quantum Analyst says his 1.8 million Twitter followers that the stock-to-flow (S2F) Bitcoin model predicts that the top digital asset will rise more than 1847% from its current value of $27,316.
S2F has traditionally been used for commodities such as gold and silver. It predicts the performance of an asset based on the idea that its price increases as the asset becomes more scarce.
According to the analyst, Bitcoin is likely to hit its massive target after the crypto king’s halving, an event that halves BTC miners’ rewards.
“My prediction for January 12 is in line with the S2F model:
1) ~$32,000 is the S2F 1 standard deviation band
2) ~$60,000 is S2F model value and just before halving (dark blue) BTC seems to hit S2F model values
3) $100,000 is the bottom of my $100,000-$1 million range around $532,000 S2F model value after the 2024 halving.”
Plan B too Defender his stock-to-flow model against critics who question its accuracy after it inaccurately predicted that Bitcoin would reach $100,000 in 2021.
“To say the S2F model is ‘wrong/invalid/broken’ is to say BTC price pumps after 2012, 2016, 2020 halvings (red arrows) are coincidences, random, unrelated to halvings. Possible, but I disagree .In my opinion 21 million cap, supply schedule, four year halving cycle is fundamental for BTC price.
In my opinion, the halving will likely be at the S2F model value of $60,000 (dark blue) and BTC will pump after the halving (red), just like the 2012, 2016, 2020 halvings.”
According to PlanB, his model has proven mostly accurate in determining market trends since he created it in 2019.
“For me, the S2F model is working as expected when I created the model in March 2019 (BTC <$4000) and is making me money. I guess someone got too focused on $100,000. And there's a lot of misunderstanding, about S2F and about models in general.”
He also recently so that $15,500 was Bitcoin’s bottom.
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