- The creator of the Stock-to-Flow (S2F) model, PlanB, shared a surprising price prediction for Bitcoin (BTC), despite being unpopular.
- As the creator of a widely used market analytical model, PlanB offers a convincing prediction, especially for Bitcoin.
- PlanB’s projection comes at a time when the market experiences a significant pullback, and bears seem to be taking control.
The creator of the Stock-to-Flow (S2F) model, PlanB, shared a surprising price prediction for Bitcoin (BTC), which is unpopular but interesting.
Bitcoin May Not See Below $35,000
The creator of the Stock-to-Flow (S2F) model, PlanB, shared a surprising price prediction for Bitcoin (BTC), which is unpopular but interesting. PlanB, while sharing an article, highlighted that Bitcoin’s price will no longer drop below $35,000.
He claimed that the value of Bitcoin increases based on its intrinsic hash rate and presented a chart, stating that Bitcoin’s value, based on $/kWh-arbitrage fundamentals, would not fall below the $35,000 threshold, except for possible black swans or short-term volatility.
PlanB reiterated this information in several posts, emphasizing the arbitrage between Bitcoin miners taking in electricity and users buying with cash from exchanges. According to him, this arbitrage can be deepened with the upcoming ETF, and miners may demand a premium for the cryptocurrency based on the unique information of the market.
As the creator of a widely used market analytical model, PlanB offers a convincing prediction, especially for Bitcoin. PlanB is one of the analysts who believes that a $100,000 price for Bitcoin is a conservative estimate for the digital currency. Recently, he has been promoting a story suggesting that Bitcoin could trade between $65,000 and $524,000 in the future.
Current Bitcoin Outlook and Market Projections
PlanB’s projection comes at a time when the market experiences a significant pullback, and bears seem to be taking control. Bitcoin is currently trading at $37,106.80, experiencing a 1.07% decline in the last 24 hours.
Despite the overall pullback, the asset’s price seems far from dropping to the $35,000 level, confirming PlanB’s predictions. The market demand for the approval of the Bitcoin spot exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) stands out as another development that could strengthen market resistance.
Expectations of a 90% probability of approval for the Bitcoin ETF, triggering many bullish predictions, including the potential for BTC to exceed $600,000 according to Cathie Wood’s Ark Invest, have been among the recent developments in the market.
