As Bitcoin Soared Past $68K, Plan B Says Floor Model Shows BTC Reaching "$100K This Year"
On November 8, 2021, the price of bitcoin reached an all-time high of $68,564 per unit at 10:57 p.m. (ET) on Monday evening. Meanwhile, Plan B, the creator of the bitcoin price model called stock-to-flow (S2F), has correctly predicted the last three months of bitcoin prices and recently said that based on the floor model the price will reach $100K this year. ‘Bitcoin Looking Strong’ — Plan B’s Poll Results Show 40% of Voters Believe $100K Will Happen This Year
Four months ago in June, Plan B tweeted that his “worst-case scenario for 2021” bitcoin (BTC) prices “on-chain based” would be “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.” During the first week of August, Plan B reconfirmed his confidence in the price forecast and said “$64K was not the top.”
After correctly predicting the bitcoin prices for the months of August, September, and October, Plan B has been discussing BTC’s current price run-up during the first week of November. On November 3, Plan B tweeted that bitcoin’s “Relative Strength Index [is] 72” and further noted that “bitcoin [is] looking strong.” The price of bitcoin (BTC) tapped an all-time high on Monday evening reaching $68,564 per unit.
Two days later, Plan B published a poll asking his 1.4 million Twitter followers if they thought bitcoin would reach “$500K, $288K (S2FX model), $100K (S2F model), or will BTC stay below $100K… by Christmas 2021?”
The poll got 242,008 votes before closing and 39.8% said it would reach $100K per unit. 31.4% of Plan B’s voters who participated in the poll believe the price could hit $288K, while 23.8% have the opinion that BTC will stay below $100K. 5% of the 242,008 votes believe there is a chance BTC will hit $500K per unit. S2F Model Predicts $100K Average, S2FX Model Predicts $288K Average
The same day the pseudo-anonymous analyst further asked his followers “Are you ready for +$10K daily candles?” Two days later, Plan B said “bitcoin long-term momentum is rising fast.” Some people think Nov close $98K is too big a jump. It is +60% from current level. Yes that is a big jump. But #bitcoin did this many times before:
May 2019 +62%
Aug 2017 +66%
May 2017 +66%
Nov 2013 +451%
Oct 2013 +61%
Mar 2013 +181%
Feb 2013 +63% etc pic.twitter.com/1VAmwxAYox
— PlanB (@100trillionUSD) November 5, 2021
About six hours before bitcoin (BTC) tapped an all-time high on Monday evening, Plan B once again spoke about the six-digit price prediction.
“As you know S2F model predicts $100K average for this halving period (and based on floor model we reach $100K this yr),” Plan B said. “But S2FX model predicts $288K average this cycle (we need some real fireworks in 2022 for that). Let’s see where this 2nd leg of the bull market will take us,” the analyst added.
What do you think about Plan B’s stock-to-flow (S2F) bitcoin price predictions? Let us know what you think about this subject in the comments section below. The Crypto Economy Soars Past $3 Trillion — Momentum of Value Grew Much Faster Than Apple"s Market Valuation MARKET UPDATES | 1 day ago Metaverse Tokens See Triple-Digit 7 Day Gains, Crypto Market Cap Inches Toward $3 Trillion MARKET UPDATES | 4 days ago Tags in this story $100K, $288k, All-time price high, ATH, Bitcoin, Bitcoin (BTC), Bitcoin Price, BTC, BTC Price, Bull, Bullish, Charts, forecast, Plan B, prediction, pseudo-anonymous analyst, S2F predictions, S2F vs Time Model, Six-Digits, stock-to-flow, Stock-to-Flow vs Time Model, Twitter
Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments