PlanB, a quantitative analyst at BTC and the creator of the popular Stock-to-Flow (S2F) model, explains why he sees a $ 5 million primary cryptocurrency in the future and therefore does not sell its BTC.
The fall in the price of BTC over the past three months has raised many questions among crypto traders and analysts about whether the bull market is still intact. However, PlanB is not interested in current market trends and is looking forward to what is to come.
PlanB: The price of BTC at $ 5 million is not impossible
In a recent interview with Scott Melker, popularly known as The Wolf Of All Streets, the creator of the S2F gave reasons why he believes BTC will trade for as much as $ 5 million in the coming years.
According to him, retractions are a common cycle and ATH of one year can be achieved in another. But PlanB believes that the years after BTC’s next halving will be much more interesting for the cryptocurrency than the next two years.
“It might be possible to reach a historic high this year and a low a year later in 2022, but then another halving will take place in 2024. So the year 2025 and the following years will actually be much more interesting than the next two years. And yes, S2F models predict prices ranging from $ 1 million (for the normal model) to $ 5 million (for the S2FX model). ”
PlanB does not sell
BTC has a long way to go if it ever reaches the $ 5 million S2FX target. Although the model predicted that the cryptocurrency would be trading at $ 100,000 by August this year and possibly $ 288,000 by the end of 2021, PlanB said he was more interested in the long road to million-dollar price levels.
According to him, he will stick to his BTC and sell only a little if it is necessary for the bear market to survive.
“I’m waiting for those price levels ($ 1 to $ 5 million) over $ 100 to $ 288,000, so I’m not selling. Maybe there’s one for me to survive the bear market. “
Meanwhile, many still wonder if the bull run is over in 2021, PlanB recently predicted that $ 64,000 was not for BTC ATH. According to a quantitative analyst, on-chain data show that the cryptocurrency will go over $ 47,000 by the end of August.