Bitcoin (BTC) hit a new all-time high of $68,641 today, which appears to be good news for analyst Plan B and its Stock To Flow (S2F) prediction model , under which it estimates that the cryptocurrency will cost $98,000 before end of November. Although not all his followers believe in his data, others show more confidence and invite him to predict the price of other markets, something to which the researcher refuses.
Plan B declared itself an analyst only of BTC and in that sense it refuses to apply its S2F model to predict the price of other cryptocurrencies or tokens, “because it does not apply to shitcoins“, as he wrote on Twitter.
However, not everyone believes his predictions as revealed by a recent poll in which his followers cast 242,000 votes and where only 39.8% believe that BTC will reach $100,000 by the end of the year.
Meanwhile, 31.4% of voters who participated in the survey that Plan B launched on Twitter believe that the price of the cryptocurrency could reach $ 288,000, while 23.8% believe that BTC will remain below the USD 100,000.
After losing the confidence of its audience, last June, due to the strong price corrections suffered by the first of the cryptocurrencies during the year, the public seems to be attentive about the estimates of Plan B in recent months. The analyst assures that the price of bitcoin will jump to fulfill its prediction, because it has done so many times before.
Interestingly, the model has almost always been right up to now, although it has been unattainable at times. Contrary to the expectations of many, the price of BTC often spiked almost exactly to the amount forecasted around the analyst’s forecast date.
However, this time, bitcoin still has to add $ 30,000 to reach the $ 98,000 estimated by Plan B for the month of November, which is 21 days away. After that, he believes that, in December, the value of the cryptocurrency will continue to rise to reach USD 135,000 before the end of the year, as already reported by Criptoreportage months ago.
The Plan B prediction model is based on the correlation of the stock or quantity of assets currently available, with the flow or quantity of bitcoins mined annually, and with it projects where the price of the cryptocurrency can go.
In 2022 bitcoin will need fireworks
The S2F model is indeed mega bullish for the remainder of the year, but even so Plan B estimates are extremely positive for next year.
“We need some real fireworks in 2022,” he said in a tweet in which he shared a graphic with version 2.0 of his predictive scheme. This is Stock to Flow Cross Asset (S2FX) from which a price of USD 288,000 arises for the next cycle.
In a Medium publication, the analyst explains that he uses his S2FX model to estimate the value of the bitcoin market for the next phase, which would last until 2024. “I solidify the base of the current S2F model by taking time away and adding other assets, like silver and gold, to the model”, as he explains.
So, based on this cross-asset formula with BTC, he gets a cryptocurrency price projection that he calls “a new way of thinking about bitcoin’s transition to phase five.”
In fact, Plan B and fellow analyst Willy Woo recently agreed in an interview, where both are equally optimistic about the future price of the cryptocurrency.
Woo said at that time that bitcoin has a 4-year cycle as if it were a planet with an orbit that is fulfilled in that period, but that this time all forces come together so that the cryptocurrency is released from its internal gravity, so its price will flow.
However, Plan B does not rule out that, within each new cycle, price corrections of the order of 50% or up to 80% may occur again. “Volatility is a characteristic of bitcoin that you always have to consider and that no other market has,” he said.