Bitcoin (BTC) forecast to reach $ 100,000 next year has “more than a hundred events” in favor, according to the famous analyst PlanB.
In the debate On Twitter, which is still ongoing about his stock-to-flow (S2F) Bitcoin price model, PlanB is well known for predicting a six-digit price for BTC – but Bitcoin is approaching that price quickly or slowly. relate to”.
PlanB has an eye on the co-linked BTC price
He objected to criticism of what he believes will happen to BTC prices after halving. As Toiyeubitcoin reported, PlanB stated that he expects the event to act as a catalyst for prices, just like in 2012 and 2016.
A Twitter user asked him about the growth rate this year. The pace of price increases in 2016 has been decreasing compared to 2012, he said, and therefore, it is necessary to consider how it will follow in 2020.
“That IMO is not the right question to ask, because you cannot only know from two events,” PlanB responded.
"It is important that you understand from co-linking (more than 100+ events) that BTC can surpass $ 100k by December 2021. How (slower / lower or faster / steeper) and exactly when is irrelevant. "
Co-linking refers to the relationship between Bitcoin price and stock-to-flow calculation. As seen in the model, the two values have closely followed each other throughout Bitcoin's existence.
“S2F and the BTC price are still together,” PlanB wrote in a debate on Twitter.
After rising to $ 100,000, stock-to-flow proposed the BTC / USD pair will maintain the average price of $ 100k until around 2024.
Tone Vays: Pumping before halving is “very likely”
Currently, the average price proposed by the stock-to-flow model of Bitcoin is around $ 8,650, which means that at the current price of $ 9,100, the reality is that Bitcoin is far beyond expectations.
As the halving gets closer and closer, there are many analysts who believe that the No. 1 cryptocurrency will only be able to rise.
This week, Tone Vays, a veteran traditional trader, revealed that even he is bullish in the short term.
"The price of $ BTC moving back to $ 9,000 is a pretty bullish sign that another pump before halving is very likely," he wrote on. Twitter.
Bitcoin quickly reclaimed the $ 9,000 area yesterday, with the current 24-hour increase of 4.3 percent.
Maybe you are interested:
Join our channel to stay up to date on the most useful news and knowledge at:
According to CoinTelegraph
Translated by ToiYeuBitcoin