Crypto Analyst PlanB Draws A $300K Scenario For Bitcoin This Year
A infamous crypto analyst, known as PlanB, shared a scenario where Bitcoin (BTC) would shoot up towards $300,000 within this year.
PlanB shared with his 1.7 million Twitter followers a projection in stock-to-flow (S2F) that if happens would again validate the model and also mean massive upside for Bitcoin.
The analyst became famous for applying the stock-to-flow to Bitcoin. S2F is a model which is more often used in commodities markets and compares an asset’s supply to the rate at which it’s being produced.
While Bitcoin has recently been priced outside the original S2F model, the analyst seems to be positive that massive rally might be just around the corner.
Despite BTC being way below the S2F model, PlanB believes that there is still time for BTC to start to ascend and record an average price of $100,000 over the coming years.
“BTC is 60% below stock-to-flow model value. Some think stock-to-flow is dead. Others know we have two more years to reach the $100,000 average. Your choice.”
Plan B also listed factors that have delayed Bitcoin’s up move, but he believes that’s all they are – delays.
“I think China mining ban, rate hike expectations, and a war just delayed things a bit.”
Nah. I think China mining ban, rate hike expectations and a war just delayed things a bit
He also pointed similarities in the current sideways movement and the ones at the beginning of 2021 and June/July 2021, both which preceded rallies to all-time highs.
