BTC for $ 100,000 by the end of the year? PlanB has revealed a key level to monitor
2 min readWell-known PlanB analyst still believes that his forecast that BTC will reach USD 100,000 by the end of the year will be fulfilled. He also pointed to the zone he would monitor, which could confirm or negate this prediction.
Six – digit amount by the end of 2021
The PlanB analyst never had any doubts about this statement. He believes BTC will grow to at least $ 100,000 by the end of the year from the current $ 47,000. This represents an increase of more than 120% from the current BTC price, but there is still relatively much time. According to him, it is real if we look at what the world of cryptocurrencies can do in one or two months. Although, on the other hand, there are still people on the Internet calling for $ 20,000 for BTC. However, according to him, this is quite unlikely.
Stock-to-flow model
The model represents the relationship between two variables, which is created by applying a linear equation to the data. This makes it easy to determine when the flow inventory model becomes invalid.
“The stock-to-flow model says we should go up given the previous halving. So all we have to do is wait for this model to be fulfilled. On the other hand, if the price of BTC stays down somewhere at $ 20,000 to $ 40,000 over several years or months, then it is clear that this model no longer fits the current data. It will be very easy to know when this model will expire. “
Looking at data from previous months and years, BTC has always been able to grow in the relatively short term, despite many pessimistic forecasts, with the steepest growth often seen at the turn of the year, while BTC “cooled” in the summer. The decline of the last 3 months allowed the entire cryptocurrency market to cool down, as the growth of April-May this year was simply unsustainable. Any logic and judgment disappeared from the market and a flood of greed ensued. It ended in a huge slump, the most risky cryptocurrencies either disappeared completely, or a large number of them lost more than 90%, many of which are currently unable to bounce back, although the entire cryptocurrency market has been growing significantly in recent weeks. Above all, high-quality altcoins grow together with BTC.
We are slowly but surely approaching the end of this year and it will be interesting to see if BTC manages to break the magic limit of $ 100,000.
