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We can expect the Bitcoin price to shatter $100,000 on this ‘exact date’ according to one of the most controversial BTC analysts in Crypto.
Using the stock-to-flow model (S2F), which divides the amount of Bitcoin in circulation by the amount of BTC mined per year, PlanB believes BTC is set to be over $100,000 on August 16th, 2021.
The high-profile crypto analyst retweeted a post from Dutch entrepreneur Marc van der Chijs on the viability and timing of the S2F model.
“Most people think this is impossible, but I have seen a 1,000% increase in less than a year at least twice before in BTC (2013 & 2017). S2F is holding up pretty well after the halving, if FOMO will start again, anything is possible.”
PlanB was the first analyst to apply the S2F model to Bitcoin.
Although it has plenty of critics, predictions from the model have so far been highly accurate.
Over the weekend, the quantitative analyst told his 123,000 Twitter followers that the stock-to-flow ratio continues to be in step with Bitcoin’s price action.
“3rd red dot (currently $11,850) above 2nd red dot (bitcoin July close $11,356) and above 1st red dot (June close $9,132)… next target: December 2017 ATH close $14,000.”
In other rending Bitcoin News today:
ANALYST: BITCOIN COULD SURGE TO $17,000 ONCE THIS CRUCIAL LEVEL IS BROKEN
Analysts are now closely watching to see how BTC continues responding to $12,000, as it has yet to catalyze any sharp selloff during this latest push higher. While speaking about Bitcoin’s near-term outlook, one analyst explained that in an optimistic scenario, the crypto’s price could push as high as $17,000.
That being said, he also notes that there are hurdles in the way, with $13,000 being the first region he is watching.
“Bitcoin: Given the significance of this level, I’m starting to think this is becoming a very likely scenario. However, a clear break and flip of $12K are continuations towards $13K and possibly $15-17K area.”
For this possibility to play out – or even come close to coming to fruition – it is imperative that Bitcoin breaks past $12,000 with decisive force.
EX-PRUDENTIAL CEO DOES A U-TURN: IT IS TIME TO BUY BITCOIN
In an interview with Fred Katayama of Reuters, Mr. Ball, who currently serves as the Chairman of the investment firm Sanders Morris Harris seemed to showcase a more positive stance towards Bitcoin.
Previously, George was a hater of the world’s top cryptocurrency and blockchain technology.
But now he thinks that Bitcoin makes for an attractive long-term investment. According to him:
“…it’s where many people will turn after Labor Day…” Ideally, as an investor, he would either want “to make a safe haven for my money or a short-term speculative bet.”
The ex-Prudential boss remarked that the current scenario in stock markets is boring, and the ‘liquidity flood’ is the only thing that’s keeping things afloat.
But that will soon end. Mr. Ball said that the continuous flurry of stimulus packages would eventually return to bite back the government, and added that: He thinks that ‘traders and investors should realign their portfolios substantially,’ and allocate sections of their portfolios to Bitcoin.
Why? Because BTC’s “…something that can’t be undermined by the government, and it won’t become worthless…” And that’s why wealthy traders and investors could probably turn to Bitcoin, as ‘there are no yields today.’
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.