One of the most controversial analysts in the cryptoverse as its called, is placing an exact date as to when traders can expect Bitcoin to be above $100,000.
Using the stock-to-flow model (S2F), which divides the amount of Bitcoin in circulation by the amount of BTC mined per year, PlanB believes BTC is set to be over $100,000 on August 16th, 2021. The high-profile crypto analyst retweeted a post from Dutch entrepreneur Marc van der Chijs on the viability and timing of the S2F model.
Most people think this is impossible, but I have seen a 1,000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again, anything is possible.”
Also Crypto News: Technical pattern suggests Bitcoin is ready to push towards $14,000
PlanB was the first analyst to apply the S2F model to Bitcoin. Although it has plenty of critics, predictions from the model have so far been highly correct.
Over the weekend, the quantitative analyst told his 123,000 Twitter followers that the stock-to-flow ratio continues to be in step with Bitcoin’s price action.
“3rd red dot (currently $11,850) above 2nd red dot (bitcoin July close $11,356) and above 1st red dot (June close $9,132)… next target: December 2017 ATH close $14,000.”