tl;dr
A prominent analyst known for applying the stock-to-flow model to Bitcoin predicts that BTC could reach as high as $150,000 in December, representing a more than 53% gain from its current value. The analyst suggests that historical patterns indicate the potential for ongoing rallies and new all-time...
PlanB, a well-known analyst using the stock-to-flow model, predicts Bitcoin could reach $150,000 in December, anticipating a 53% increase from its current value, with potential for continued rallies until June.
A prominent analyst known for applying the stock-to-flow model to Bitcoin predicts that BTC could reach as high as $150,000 in December, representing a more than 53% gain from its current value. The analyst suggests that historical patterns indicate the potential for ongoing rallies and new all-time highs until at least June, with a concentrated period of bullish market activity. At the time of the interview, Bitcoin is trading at $97,677, down 2% in the last 24 hours.
A widely-followed analyst known for applying the stock-to-flow model (S2F) to Bitcoin is unveiling his price target for BTC this month. In a new interview with trader Scott Melker, pseudonymous analyst PlanB says that Bitcoin could surge to as high as $150,000 in December, a more than 53% gain from its current value. “It’s almost scary that it is happening again. It seems programmed: three years of boring bear markets and then one year of FOMO (fear of missing out) and face-melting bull action. And it’s like that in all the past cycles. So if history is any guide, we’re going to see that again. And I certainly think we’re going to see that again. So indeed $100,000 if not $150,000, somewhere between that for this month, December.” He also says that based on historic precedence, Bitcoin may continue to go on a series of rallies printing new all-time highs until at least June. “Again, if history is any guide, the returns of Bitcoin are not normally distributed. So it’s not like we get an all-time high and then a bear market and an all-time high and some middle ground. No, it’s all-time high after all-time high after all-time high. It’s very clustered. So maybe six to 12 months of real bull market action.” Bitcoin is trading for $97,677 at time of writing, down 2% in the last 24 hours.