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Bitcoin ‘Will Not Stop at $100K,’ Says Stock-to-Flow Creator

As Bitcoin price hovers around the $55,000 support level, stock-to-flow creator, Plan B has said that the coin will reach $288k by December.

According to the analyst, Bitcoin price will not stop at $100,000 this year. With the coin trading sideways below both it’s recent peaks of $58,300 and $61,700, investors are concerned about where the 2021 bull run is headed.

For the followers of the stock-to-flow model, the bull run is just getting started. In a number of posts on Twitter on Wednesday, the creator, Plan B, noted that Bitcoin will not stop at $100k but will continue toward a $288k average price level. He noted:

December close: $28,992 January close: $33,141 February close: $45,240 March 17 price: $55,000 We are only 3.5 months into the bitcoin bull market. IMO BTC will not stop at $100K and will continue to S2FX $288K average price level (ATH will be higher).
stock to flow by plan b

Plan B explained this referencing his stock-to-flow, or S2F, and stock-to-flow cross-asset, or S2FX, models, which give an average BTC/USD price forecast of $100,000 and $288,000 during the current halving cycle, set to end in 2024.

Although, the $288k mark is just the conservative figure. Plan B believes that the peak of this cycle could be double those figures to the tune of $576,000.

Fellow analyst, Rekt Capital, has also given credence to this projection.

He noted on Twitter that the S2F model is on its way to its next target. He believes it could potentially see upside deviations. He said:

Upside price deviations from the Stock to Flow line tend to precede Bull Market tops for BTC. At the moment, $BTC is perfectly follow the Stock to Flow line. But Bitcoin hasn’t deviated from it — yet.

Rekt Capital stock-to-flow model

It’s interesting to note that despite the stock-to-flow model not existing during the top of Bitcoin’s first halving cycle price peak in 2011, it achieved a trajectory deviation equal to 1,157%.

At 18:48 GMT on Wednesday, the coin was trading at $57,275, a gain of 3.48% in the last 24 hours.

If you have any questions and comments on Bitcoin today, use the form below to reply.


© IbrahimAnifowoshe for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin, Forecasts

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