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Introducing his latest revamp of the popular Bitcoin price model, analyst PlanB adds gold and silver and almost trebles his previous forecast.
The latest version of a popular and thus far accurate BTC price model predicts an average price of $288,000 — and it could happen this year.
In a blog post introducing the third incarnation of the stock-to-flow (S2F) model on April 27, analyst PlanB revealed fresh calculations that are taking his forecast ever higher.
This time, gold and silver joined in, combining with Bitcoin to create the new BTC S2F cross-asset model or S2FX. Stock-to-flow calculates a value based on the supply of new Bitcoins entering circulation through mining versus the existing supply, or “stock.”
The retroactive application confirms that the model is extremely competent at charting Bitcoin’s growth, with even last month’s 60% drop still falling within its predicted range.
Prior to S2FX, an “updated” stock-to-flow chart put BTC/USD at an average of around $100,000 between 2020 and 2024.
With the release of the new version, however, the prediction has almost tripled overnight.
“The S2FX model formula can be used to estimate the market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020–2024),” PlanB summarized.
“…This translates into a BTC price (given 19M BTC in 2020–2024) of $288K.”
In other trending Bitcoin News today:
Tim Draper Doubles Down on His $250K BTC Prediction
If Bitcoin does not hit $250,000 by early 2023, Tim Draper jokingly says he’ll eat a raw egg.
Speaking at Virtual Blockchain Week, famed venture capitalist Tim Draper confirmed that he is sticking to his six-figure Bitcoin (BTC) price prediction.
Back in 2018, Tim Draper made a bold public call that the price of Bitcoin would reach $250,000 by the end of 2022 or early 2023.
As of today, he’s sticking to it:
“That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.”
He cites a couple major reasons that might drive that kind of price action.
Draper believes that the US government’s massive stimulus package will debase the value of the dollar and “send people to crypto.”
He also expects that Bitcoin will see massive commercial adoption around the world within this timeframe.
“All of the sudden, the retailers say, “Oh, you mean I don’t have to pay 2.5-4 percent to the banks every time somebody swipes a credit card?”
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