PlanB’s Prediction For Bitcoin Unchanged: $135K By December 2021
A famous cryptocurrency analyst, known as PlanB believes that Bitcoin (BTC) make big moves up in the next few months.
PlanB gained fame by being the first to apply stock-to-flow (S2F) model Bitcoin. S2F model attempts to predict the price of a commodity by measuring the amount of new supply entering the market each year compared to the amount of supply already in existence.
According to the analyst S2F floor model as a reliable indicator, and it helped him to predict BTC’s monthly closing prices in August and September – which he got spot on.
Bitcoin is below $34K, triggered by Elon Musk's energy FUD and China's mining crack down.
There is also a more fundamental reason that we see weakness in June, and possibly July. My worst case scenario for 2021 (price/on-chain based): Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K pic.twitter.com/hDONOVgxH1
“The model that got the most attention the last couple of months was the floor model because I predicted on June 20th – that was the same time, by the way, that the Guggenheim chief officer predicted Bitcoin to go below $20,000 – at about that same day, I made the prediction: ‘No, no, no it’s going to $47,000.’
And Bitcoin was below $34,000 at that time. I said, ‘Well, in August, it will close above $47,000. In September, it goes down a little but it will close above $43,000, and in October it will close above $63,000.’”
If BTC continues to following the floor price predictions of his S2F model, then it could surge over 44% from its current price of around $60,000 in November and stage another major rally in December, the trader predicts.
“If that continues, and frankly I would be very surprised if it doesn’t, that would be a black swan event that we haven’t seen in the last ten years.
But if that continues, we’ll go to $98,000 in November already and $135,000 Bitcoin in December, so that will be a really nice Christmas this year if that comes true.”
Although he expects massive price appreciation in the coming months, it will likely be followed by another large correction that has historically happened after every major bull cycle.
“I don’t think the world is ready yet for hyperbitcoinization or the supercycle.
I think we will be managed by greed right now and fear later on and see another – 80% after we top out at a couple hundred thousand dollars.”
