Bitcoin (Bitcoin) May soar to $100,000 or bottom to $30,000 before Christmas-but one of its most famous analysts is betting on the moon.
in a Twitter update On Thursday, PlanB, the creator of the stock-to-flow series of the Bitcoin price model, raised new doubts about Bitcoin’s bear market trend.
PlanB focuses on the “critical” remaining months
The trading price of BTC/USD this week is 47,000 US dollars, and PlanB has many trustworthy places.
His recent forecast for the lowest monthly closing price in August is exactly the same as the current price-if the remaining four are equally accurate, Bitcoin may USD 135,000 at the end of 2021.
The first incarnation of Stock-to-flow required that the average price of BTC in this halving cycle be $100,000, but May’s transformation allowed its time-tested accuracy to win funding.
Despite this, PlanB insisted on it, believing that it has not expired, and there is no proven better alternative.
An alternative model of this kind, which now seems unlikely to be realized, was originally a logarithmic “diminishing return” chart produce Written by Bitcointalk forum user Trololo in 2014.
The adjusted version calculates that the price of BTC/USD at the end of this year is only US$30,000, which PlanB believes is unlikely to be higher than the stock flow of US$100,000.
“The next few months will be key,” he added in the accompanying chart comparing the two models.
When is the double top?
As Cointelegraph Report, This week’s short-term price analysis of BTC is wrong in terms of caution.
Since the support of $50,000 is still out of reach, there are disagreements on the potential impact of the upcoming annual Jackson Hole summit of the US Federal Reserve.
Despite a 60% rise from the recent low of $29,000, Bitcoin has not yet challenged the final resistance level of $50,000, let alone the all-time high of $64,500 set in April.
Shrinking, optimism is still the name of the game, and the data suggests that there will be a new bullish wave before the end of the year.This meeting copy Other bull market years after the halving, especially the 2013 double top.