PlanB feels “uneasy” because 41% of his fans say that there will be no $100,000 BTC this year

PlanB is the idea behind the Bitcoin stock-to-flow model. He revealed that due to the recent downtrend in the market, he was “uncomfortable” with his famous price forecast.

In a recent Twitter poll, some of his followers questioned the stock flow (S2F) model that predicted the price of BTC with a certain degree of accuracy over the past two years.

This Anonymous analyst On June 21, he surveyed his followers and asked them what price they thought BTC would reach by the end of the year. He compared these results with similar surveys in March when market sentiment was overwhelmingly bullish.

Among the 124,595 respondents in the latest public opinion survey, 41% believe that the BTC price will remain below $100,000 by the end of the year, which will make S2F modelThis is two and a half times the 16% of people with laser eyes who were considered disappointed this year in the last poll.

PlanB, which originally released the price predictor in March 2019, released a message admitting that even he felt a little “uneasy” when the BTC price deviated from the model. However, the analyst pointed out that the model was previously successful again in March 2019 and March 2020 when the pandemic caused the global market to collapse, and it was successful again in September 2020.

Preston Pysh, founder of The Investors Podcast Network, comment The model is difficult to explain the bad news that has accelerated the market downturn.

“What you mean is that your model does not account for more than 40% of the mining equipment that is banned, forced to be closed and relocated around the world…Heavy BTC treasury bonds/retained earnings.

The model is calculated based on the ratio of Bitcoin’s existing supply to the amount of bitcoin in circulation. Due to the four-year halving cycle, the scarcer the asset becomes, the higher the price. PlanB’s model predicts an average price of $288,000 for the next three years.

related: PlanB says the $288,000 BTC price is “still in play” because Bloomberg supports Bitcoin halving

According to CoinGecko’s data, at the time of writing, Bitcoin has risen by 2.9% in the past 24 hours and is trading at $34,450. The asset is currently down 45% from the historical high of $64,800 set on April 14.

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