Wednesday, May 29, 2024

Plan B forecasts Bitcoin will hit $100K by Christmas and announces details of stock-to-flow (S2F) bitcoin price model

Plan B forecasts Bitcoin will hit $100K by Christmas and announces details of stock-to-flow (S2F) bitcoin price, model

According to the bitcoin (BTC) analyst, Plan B, the value of bitcoin could reach $100,000 by the end of this year.

This prediction is based on the bitcoin S2F (stock to flow) model. This model predicts the price of an asset by analyzing the ratio of its supply (stock) to its yearly production (flow). The S2F model can disclose the scarcity of a commodity in the market. Although the S2F model has been in existence and used for commodities like silver and gold, Plan B made this method popular for the cryptocurrency, bitcoin (BTC).

Accuracy of S2F

According to the comparison between the S2F model’s prediction and the Time Model, it is likely that bitcoin will hit the $100k mark. Despite a few deviations, the trend seems to be accurate.

The Time Model in itself has a slightly different prediction. It predicts the value of bitcoin (BTC) at $30k by Christmas. The Time Model method predicts the price by incorporating lengthening cycles and diminishing returns.

But the cryptocurrency analyst, Plan B, disagrees with it. According to the analyst, the S2F model’s prediction is more reliable.

Value of BTC

Currently, toward the end of August, the price of bitcoin (BTC) sits around $47.8k. The price rose 14% in the month of August. But the value of bitcoin (BTC) shows a sharp decline now. The price is expected to fluctuate anywhere between $45k and $50k.

It is difficult to predict where the bitcoin (BTC) price is headed in the short term. But if the S2F model is correct, cryptocurrency investors should look forward to the $100k gift on Christmas.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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