Crypto Currency News

“In the worst case scenario, the price of bitcoin will end 2021 above $ 100,000”

The creator of the Stock-to-flow model added that the decline in recent weeks is due to a typical "mid-way" correction.

“Plan B,” the pseudonym of the creator of the popular stock-to-flow (S2F) bitcoin pricing model, released a surprising projection for the price of bitcoin this week: in a worst-case scenario, the major crypto currency could end 2021 above USD 100,000, even reaching USD 135K.

According to Plan B, “Bitcoin is below USD 34K, because of Elon Musk’s FUD – fear, uncertainty and doubt, in English – and China’s mining crackdown.” And he expressed that the decline in recent weeks is due to a typical “midway” correction.

The analyst stated that his predictions for 2021, in the worst case, that is, in the worst possible scenario, according to his analysis model, are:

August USD 47,000

September USD 43,000

October USD 63,000

November USD 98,000

December USD 135,000

Regarding the arguments of this prediction, Plan B replied that it will soon release it, and clarified that it will also share its projection in the best possible scenario, which places the price of bitcoin for December above USD 450K.

Plan B is a popular price analyst, creator of the stock-to-flow model, with more than 570,000 followers on Twitter. The S2F price model has also gained popularity over the last 12 months and is often referenced in technical analysis.

Regarding the criticism received for the decline in recent weeks, Plan B argues that the liquidation (sale) has led to a better distribution of bitcoins:

“60% of the bitcoins sold in May-June were bought in March-April and sold at a loss. 40% were bought earlier and sold at a profit. Of the total of 18.7 million bitcoins today, about 2.5 million were bought at a price level below $ 10, another 2 million between $ 10 and $ 1000 and about 2M between $ 1K and 5K, and so on. The distribution of BTC seems much healthier. “Explained the analyst.

The concepts expressed in this note are for informational purposes and do not constitute an investment recommendation.

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