Worst case price prediction for bitcoin using the stock to flow analysis could see bitcoin hitting $135,000 by December 2021 according to PlanB
Popular crypto analyst PlanB has outlined the potentially bearish situation for bitcoin over the course of 2021. The analysis makes use of the stock to flow (S2F) model to determine the potential price of bitcoin.
In a recent tweet, PlanB states “Bitcoin is below $34K, triggered by Elon Musk’s energy FUD and China’s mining crack down.” The analyst further reiterates his sentiment using the S2F model, saying “There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K”
Best case scenario sees $450K BTC
While PlanB reiterates that the current price model is the worst case scenario, the analyst still believes that BTC could break its previous all-time high by October. Also stating that BTC could hit $135,000 before the end of the year.
PlanB commented further on his tweet, offering a best case scenario price prediction, “my base case and best case scenarios! a hint: best case Dec $450K.”
PlanB expects in the worst case that BTC should hit $135,000 by December, with a potential to hit $450,000 in a best case scenario.
The stock to flow model is based on bitcoins valuation model, which was inspired by Nick Szabo’s concept of unforgeable scarcity. The model measures scarcity, and the price of bitcoin over time.
Other price predictions
Recently Perianne Boring told CNBC that bitcoin could reach $288,000 according to the same model, saying ““Stock to flow says bitcoin should be priced at $100,000 to $288,000 this year. We have 12 years of data on Stock to flow on bitcoin. If you measure with the U.S. dollar, stock to flow is 94% correlated.”
Nexo co-founder Antoni Trenchev recently spoke to Bloomberg and gave his price predictions, saying that BTC would hit $100,000. Trenchev also stated that he expects other countries to follow El Salvador in making BTC legal tender in the future.
"case" - Google News
June 20, 2021 at 11:26PM
https://ift.tt/3gHtujC
Stock to Flow Analysis: Worst Case Scenario Could See $135K BTC by December - Yahoo Finance
"case" - Google News
https://ift.tt/37dicO5
https://ift.tt/2VTi5Ee
Bagikan Berita Ini
0 Response to "Stock to Flow Analysis: Worst Case Scenario Could See $135K BTC by December - Yahoo Finance"
Post a Comment