The Model Knowing The Trajectory Of Bitcoin (BTC) Gave New Levels!

The inventor of Bitcoin’s stock-to-flow (S2F) model says that despite the bearish outlook, the BTC price has the potential to grow 5x. The analyst supports his prediction through the S2F model, which predicts the future price of Bitcoin based on its circulating supply relative to the number of Bitcoins mined each year.

Plan B’s stock-to-flow model predicts Bitcoin price to have 5x potential

Popular Twitter analyst Plan B is the name behind the Bitcoin S2F model. The anonymous analyst with twenty years of experience in finance predicted $100,000 for BTC last year. The S2F model gained popularity in March 2019 after its release. S2F is a widely accepted method for predicting Bitcoin price based on its scarcity. The underlying idea is that scarcity drives up the price of Bitcoin. Therefore, measuring scarcity helps predict Bitcoin price.

What is S2F? What is the estimate based on?

The S2F model predicts the price based on the circulating supply of BTC mined each year. During halving periods, Bitcoin’s miner rewards decrease by 50 percent every four years. This plays an important role in Bitcoin’s rally according to the S2F model.

In a recent tweet, Plan B shared new data to improve the 2019 Bitcoin S2F model. This time, he revealed the new targets of the model with a white dotted line. Plan B sets a bullish target for BTC in the $100,000 to $1 million range. It asks users to interpret this as “BTC will increase by at least 5 times”.

Analysts defend bullish outlook in Bitcoin

Despite bear market conditions and forecasts, the analyst nicknamed Crypto Prof set a target of $68,000 for Bitcoin price via Elliott Wave Theory. The analyst believes that the Bitcoin price has a good chance of returning to $68,000 in the next few months, as it has in the last two cycles. Crypto Prof also predicts that the Bitcoin floor is a sign of the upcoming rally.

A Declining Widening Wedge (DBW) is a bullish chart pattern formed by two different bullish lines, which is considered a reversal pattern. If there is a good swing between the two upward lines, the Declining Widening Wedge is confirmed. Crypto Prof recently spotted a DBW on the Bitcoin price chart.

cryptocoin.comAs you follow, BTC is currently trading above $19,000. Analysts’ forecasts must rise more than 70% from current levels to be true. BTC has failed countless times, especially in turning the $20,000 level to support. According to most analysts, it is critical for it to break this level before losing $18,500.

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