$288K by December? Bitcoin ‘will not stop at $100K’ says stock-to-flow creator
Bitcoin (BTC) still has plenty of room to grow in its current uptrend and won’t stop at $100,000, according to analysts including PlanB.
In several posts on social media at 17. In March, the creator of the bitcoin pricing model joined others in predicting new all-time highs for BTC/USD.
Model S2FX PlanB cranes average price $288,000
With bitcoin trading sideways below recent highs of $58,300 and $61,700, investors are curious to see where the bull market might end up in 2021.
As Cointelegraph reports, depending on the price indicator used, the peak may be uncomfortably close or still far away. For stockbrokers, the answer remains steadfast – compared to previous cycles, 2021 is just the beginning.
We are only three and a half months into the bitcoin bull market, PlanB summarizes.
IMO, BTC will not stop at $100K and will continue to maintain an average price level of $288K in S2FX (ATH will be higher).
He referenced both his stock cross movement model, which indicates an average BTC/USD price of $100,000, and a prediction of an average BTC/USD price of $288,000 during the down cycle, which is expected to end in 2024.
However, this is only an average, and PlanB thinks that the top of this cycle could double or even exceed these figures – perhaps more than $576,000.
Stock-to-Flow (S2FX) cross chart at 17. March. Source: PlanB/Twitter
Another six-fold increase by December?
Bitcoin currently follows a stock market curve almost to the letter – like a clockwork, as PlanB describes it – and currently shows no signs of approaching the top of the cycle.
As fellow analyst Rekt Capital notes, such signs tend to pop up when BTC/USD jumps above its predicted price.
Price divergences on the stock-flow line tend to precede bull market tops for BTC, the account wrote on Twitter.
Right now, the $BTC is perfectly following the line from stock to current. But bitcoin has not deviated from that so far. bitcoin price chart with divergence marked. Source: Rekt Capital/Twitter
Although there was no stock pattern during the peak of the bitcoin price in the first half of the cycle in 2011, it reached a price anomaly of 1,157%.
In addition, PlanB has set a deadline of December 2021 for receipt of the $288,000. Commenting on Twitter, he estimated that the bull market will continue for at least a few more months.
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