BTC near the end of November near 100 00 USD?
PlanB is one of the most popular analysts in the cryptocurrency community and is the author of the oft-cited stock-to-flow (S2F) model. In line with this model, PlanB predicts that BTC will reach a six-figure value by the end of the year, with the most optimistic forecast at $ 288,000 over the next 60 days.
On the contrary, its worst-case scenario, which is not based on the S2F model, is much more modest, although it still counts on a price BTC above USD 100,000 by the end of this year. In numbers: BTC is expected to reach $ 135,000 in December and $ 98,000 in November.
If the primary cryptocurrency actually reached such a price tag at the end of November, it would have to increase its value in USD by about 60% compared to today’s prices. Although this may seem like a difficult goal at first glance, BTC has shown us in the past that it is definitely capable of such movements. Let me remind you that in October alone, BTC grew by more than 40%.
PlanB and its price forecasts
When evaluating the upcoming price forecasts, it is worth looking at the history of its previous predictions. The “worst case scenario” mentioned above meant that BTC closed at $ 47,000 at the end of August and then retreated slightly to $ 43,000 at the end of September. Interestingly, both forecasts have come true.
At the end of October, BTC closed at $ 61,000, while the forecast was for $ 63,000. PlanB commented that the 3% deviation was just a “rounding error”, adding that it was “still close enough to its forecast”.