PlanB, a crypto analyst best known for first applying the stock-to-flow (S2F) model in predicting Bitcoin’s price movement reveals that he’s willing to part with his BTC at a certain (very high) price level.
PlanB tweets his 517K followers that he’s prepared to hold the leading Bitcoin either to his target price or to zero.
“I see my Bitcoin investment as a call option. I will either ride it to zero or $1 million+ and sized my (initial) position accordingly.”
PlanB had previously predicted that Bitcoin will reach $100,000 based on the stock-to-flow model and $288,000 based on the stock-to-flow cross asset (S2FX) model within this bull cycle, his focus is now on the bet that Bitcoin’s upside potential is greater than the downside risk for the next halving.
“I am less interested in $100K-$288K, but focused on 2024 halving and beyond. I don’t care about volatility, asymmetric return is key ($0 vs. $1 million).”
The crypto analyst explains that the last week’s BTC correction (or crash) resulted huge losses to the tune of tens of billions of dollars, especially for the newcomers in the market.
In the chart you see at what price level each of the total 18.7M BTC was last moved.
So what happened in May? Weak hands sold ~1M BTC in May at $30k-35k .. which they bought in April at $55k-60k: a staggering ~$20B loss. The good news: these 1M #bitcoin are in strong hands now. pic.twitter.com/bIXhil2LL7
“So what happened in May? Weak hands sold ~1 million BTC in May at $30,000 – $35,000 … which they bought in April at $55,000 – $60,000: a staggering ~$20 billion loss. The good news: these 1M Bitcoin are in strong hands now…
For [newbies] this volatility can be too much. We all know the kind of people that sold in May. Look around you. These are always the same people.”
