PlanB, inventor of the stock-to-flow model (S2F), which has been successful so far in Bitcoin on 20 June He had announced a worst-case scenario prediction for Bitcoin.
The declines due to the hash rate loss in Bitcoin after the Chinese FUD caused a deviation in the S2F model and the accuracy of the indicator began to be discussed.
However, PlanB stated that this is a temporary deviation and that even in the worst-case scenario, Bitcoin will rise to $135,000 this year.
Sharing the worst-case scenario expectations on a monthly basis, the analyst used the following statements;
“We can see continued weakness in June and July for a number of fundamental reasons. In my worst case scenario for 2021, we will be over $47,000 in August, $43,000 in September, $63,000 in October, $98,000 in November, and $135,000 in December.”
When we look back at the analyst’s post on June 20, we see that August closed above $47,000 and September closed above $43,000.
While PlanB’s worst-case scenario continues to run smoothly, the analyst also shared a post about it and said that the new target is $63,000.
We will be watching whether Bitcoin will act in line with the analyst’s expectations in October as well. At this point, we recommend investors not to be affected by such expectations and to control their risks without fear of losing the opportunity and evaluate according to the general outlook in the markets.
*Not Investment Advice.