Bitcoin price has been falling sharply for the past few days. BTC, which has lost 8.75% in the last 24 hours, is trading at around $ 35,600 at the time of this writing. However, the analyst nicknamed Plan B, the creator of Bitcoin’s “Stock-to-Flow (S2F)” model, claimed that there is no need to panic. Asking market participants to get used to the high volatility, the analyst said that Bitcoin has proven to be a profitable tool in the long run.
Plan B Claims Bitcoin Market Will Bounce Back
The famous analyst, the founder of BTC’s S2F model, recently tweeted, to bitcoin and reiterated his confidence in the model he created. Citing an example from his own experience, the analyst stated that he remained true to the long-term plan and ignored the current downturn.
In 2016 I bought my first #bitcoins at $400
March 2019 I published S2F model, at $4000 btc
Now, Jan 2022 btc dropped below $40,000 (within 2sd band)
Some are worried about current dip, but I am quite sure that btc will add another zero next couple of years. Embrace volatility! pic.twitter.com/QvzsQwPBaJ
— PlanB (@100trillionUSD) January 21, 2022
The analyst said that he bought his first BTC in 2016, when the price of the cryptocurrency was $ 400, and in 2019 he published the S2F model. According to the analyst, since that date, Bitcoin price has stuck to the S2F model in a range of two standard deviations, even as it currently drops to $40,000. The analyst also claimed that the target of $100,000 in the next few years is inevitable when the historical performance of the BTC price is examined: “Some people are worried about the current downturn, but I am confident that the Bitcoin price will add another zero to its value in the next few years.”
Thus, the analyst stated that he is behind the “Stock-to-Flow” model, the accuracy of which has been discussed for a long time, and also announced that he believes the current bear trend will end.
*Not investment advice.