Bitcoin (BTC) has plenty of room for growth in its current bull run and will “not stop” at $ 100,000, according to analysts like PlanB.
In various posts on social media on Wednesday, the developer of the Bitcoin price model for stocks, along with others, forecast huge new all-time highs for BTC / USD.
PlanB guesses the average price of the S2FX model of 288,000 USD
With bitcoin trading sideways below recent highs of $ 58,300 and $ 61,700, investors are excited to see where the bull run could end in 2021.
As Cointelegraph reported, the peak could be uncomfortably close or far away, depending on the price indicator used. For stock-to-flow supporters, the answer clearly remains the latter: Compared to previous bull cycles, 2021 is only just beginning.
“We are only 3.5 months in the Bitcoin bull market”, summarized PlanB.
“IMO BTC will not stop at $ 100,000 and will continue to hit the average price level of S2FX $ 288,000 (ATH will be higher).”
He referred to both his stock-to-flow or S2FX and stock-to-flow cross-asset or S2FX models, which have an average BTC / USD price prediction of $ 100,000 and $ 288,000 during the current one Halving cycle that should end in 2024.
This is just the average, however, and PlanB believes the peak of this cycle could be double or even higher – possibly above $ 576,000.
Another 6x wins until December?
Currently, Bitcoin is following the course of the share flow almost to the letter – “like clockwork” as PlanB described it – and has not yet given any signs that the tip of the bike is approaching.
As the analyst Rekt Capital noted, such signs usually come in the form of BTC / USD jumping over the planned trajectory.
“Upward price deviations from the stock-to-flow line tend to precede the bull market peaks for BTC,” wrote the Twitter account.
“Right now, $ BTC is perfectly following the stock-to-flow line. But Bitcoin hasn’t deviated from it yet. “
Although the stock-to-flow model did not exist during the first half-value of Bitcoin’s half-life cycle in 2011, it achieved a deviation of 1,157%.
PlanB highlighted December as the deadline for $ 288,000. In Twitter replies, he argued that the bull run had “at least a few more months” ahead of it.