PlanB: $288,000 Bitcoin Prediction Is Still in Play – S2F Model Holds
According to the well-known crypto analyst, PlanB who first introduced stock-to-flow model (S2F) to bitcoin, $288,000 BTC price prediction still holds.
In a recent tweet, the trader and analyst doubles down on his bold price target for Bitcoin despite the number one crypto’s deep correction to $30,000. Bitcoin reclaimed $40,000 mark in the last 24 hours, which gives PlanB’s prediction more confidence.
PlanB says that BTC has a solid chance at following his variated S2F model, the S2FX, which is traditionally used to measure and follow the performance of commodities such as precious metals. The analyst is known for being the first to apply the S2F model to Bitcoin.
$288K still in play. It would really surprise me if #bitcoin would not touch the black S2FX model line this phase. Regardless of current volatility, yellow green and blue dots will be (much) higher than red orange dots. pic.twitter.com/np26ypO96X
“$288,000 still in play. It would really surprise me if Bitcoin would not touch the black S2FX model line this phase. Regardless of current volatility, yellow, green and blue dots will be (much) higher than red and orange dots.”
According to PlanB, Bitcoin has reached a point where it’s store of value is becoming an alternative to gold and real estate.
Frankly I don't know. But bitcoin is currently competing with gold & real estate as store of value. I was an old gold bug, sold my gold and bought bitcoin with it. I see friends making the decision to not buy an extra house but btc instead. So IMO btc will be in that value range.
“Bitcoin is currently competing with gold & real estate as store of value. I was an old gold bug, sold my gold and bought Bitcoin with it. I see friends making the decision to not buy an extra house but BTC instead. So in my opinion BTC will be in that value range.”
PlanB’s models have received much attention due to the accuracy. Especially S2FX model, which takes into account gold and silver’s performance to predict BTC’s potential value in the future.
In the past weeks, the S2F model has been touching its limits of breaking due to Bitcoin’s heavily bearish price action, but PlanB remains confident in the model’s prediction for this cycle. He also says he’s not worried about the short-term price action for Bitcoin as he believes BTC will hit a seven-figure price tag in the coming years.
“I am less interested in $100,000 – $288,000, but focused on 2024 halving and beyond. I don’t care about volatility, asymmetric return is key ($0 vs. $1 million).”
In fact, it’s not the first time the BTC price has been outside S2F model’s limits, but during the past halvings, it has always returned to its tracks.
