Widely followed analyst PlanB, next year bitcoin He believes that the (BTC) halving will push the crypto king to an all-time high.
The analyst tells his 1.8 million Twitter followers that the stock-to-flow (S2F) Bitcoin model will rise more than 1,847% from the current value of the top digital asset at $27,316. predicts.
S2F has traditionally been applied to commodities such as gold and silver. It predicts the performance of an asset based on the idea that as the asset becomes scarcer, its price will increase.
According to the analyst, Bitcoin is an event that halves the reward of BTC miners. crypto- He will achieve his great goal after the halving of his king.
NEWS CONTINUES BELOW“My January 12 prediction is in line with the S2F model.
1) $32,000 is the S2F 1 standard deviation band.
NEWS CONTINUES BELOW2) $60,000 is the S2F model value and BTC seems to have reached S2F model values just before the halving (dark blue).
3) $100,000 is the bottom of my $100,000 – $1 million range around $532,000 S2F model value after the 2024 halving.”
PlanB also defends the stock-to-flow model against critics who question its accuracy after it incorrectly predicted that Bitcoin will reach $100,000 in 2021.
“To say that the S2F model is ‘false/invalid/broken’ is to say that BTC price pumps after the 2012, 2016, 2020 halvings (red arrows) are random, random, irrelevant to halvings. Possible, but I disagree. To me, the 21 million limit, the supply schedule, the four-year halving cycle are key elements for the BTC price.
To me, the halving will likely be S2F model value of $60,000 (dark blue) and BTC will pump after the halving (red), just like the 2012, 2016, 2020 halvings.”
According to PlanB, it has proven largely accurate in identifying market trends since creating the model in 2019.
“For me the S2F model works as expected when I made the model in March 2019 (BTC < $4,000) and saves me money. I think some bees focused too much on $100,000. There is a lot of misunderstanding about S2F and models in general.”
As we reported as Koinfinans.com, the analyst also recently said that $ 15,500 is the bottom of Bitcoin.