PlanB, the creator of Stock-to-Flow (S2F) model: Bitcoin price is still on track to hit $135,000 by December 2021
Bitcoin price could trade at $450,000 by the end of 2021, while $135,000 would be the worst-case scenario. That’s according to analyst PlanB, the creator of the Bitcoin stock-to-flow model. He is the one who on June 20 released his latest sentiment-busting bullish BTC price prognosis.
The Bitcoin stock to flow model, designed by PlanB, outlines a relationship between scarcity and value that has been a solid long-term predictor of cryptocurrency price trends.
Bitcoin price is still on track to hit $135,000 by December 2021, according to PlanB
Comparing Bitcoin to precious metals like gold and silver, PlanB has used statistics to outline a defined relationship between the value and scarcity of a given asset. The basic hypothesis is that the easier it is to produce a good, the harder it is for it to retain value, assuming demand remains stable.
The path to the 6-digit price of BTC will not be smooth. However, the prominent analyst claims that Bitcoin is still on track to hit $135,000 by the end of 2021. And it’s his worst’s cast scenario.
PlanB’s latest tweet is actually painting an optimistic outlook for Bitcoin later this year. PlanB also notes that there will be a possible weakness in the next few months due to a more fundamental reason that he will reveal later on.
Bitcoin is below $34K, triggered by Elon Musk’s energy FUD and China’s mining crack down.
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 pic.twitter.com/hDONOVgxH1
— PlanB (@100trillionUSD) June 20, 2021
Even as BTC has seen multiple retests of lows from months ago, PlanB is firmly fixed on a much brighter mid-term target for the largest cryptocurrency.
Now, even a “worst-case” for Bitcoin would still see it trade at $47,000 in August. A slight reversal in September sets a minimum target of $43,000 for that month, only followed by $63,000 in October – near the current all-time high. Things then heated up, with $98,000 on the card in November and a whopping $135,000 by year-end.
As a result, Bitcoin is still four months away from re-matching all-time highs – a prediction that nonetheless beats some of the bearish patterns traders are currently fearing.
You can see the Bitcoin price here.
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