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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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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.
Show Notes / Resources:
I think PlanB made a step in the right direction my including more assets in his model. Solid work. As soon as S2FX is confirmed for a wide range of assets like Pt, W, $BSV and $BCC, it will have my enthusiastic support. Highly scientific! https://t.co/OTCcdrsVkd
— ᴹᵁᴴ𝔍𝔬𝔢⁰⁰⁷ 🐳 (@J0E007) April 28, 2020
https://cointelegraph.com/news/tim-draper-doubles-down-on-his-250k-btc-prediction
https://cointelegraph.com/news/new-stock-to-flow-forecast-puts-average-bitcoin-price-at-288k-by-2024
https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12
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Bitcoin’s Potential Surge: Fractal Analysis Points to $320K by May, Plus 5 Major Crypto Predictions for 2022
The world of cryptocurrency is once again buzzing with excitement as a Bitcoin fractal analysis suggests a staggering price target of $320,000 by May. This bold prediction is just one among several major forecasts outlined in the article, offering a glimpse into what 2022 might have in store for Bitcoin and the broader crypto market.
The heart of the discussion revolves around the intriguing concept of fractal analysis applied to Bitcoin’s price movements. By identifying patterns in historical price charts and extrapolating them into the future, analysts propose a potential trajectory that could see Bitcoin reaching an impressive $320,000 by May. The crypto community is keenly watching to see if this fractal unfolds as predicted, adding a layer of anticipation to the evolving narrative of Bitcoin’s price journey.
The article doesn’t stop at the $320,000 forecast; it delves into five major predictions for the broader cryptocurrency space in 2022. These forecasts may shape the landscape of digital assets and influence investor sentiment in the coming months. As with any predictions, it’s important for market participants to approach them with a balanced perspective, considering the dynamic nature of the crypto market.
For investors navigating the cryptocurrency landscape, the predictions outlined in the article provide valuable insights into potential trends and developments. From regulatory shifts to technological advancements, these factors can significantly impact the market, and staying informed is crucial for making informed decisions.
As the crypto community gears up for the unfolding year, the prospect of Bitcoin reaching $320,000 and the other predictions outlined in the article contribute to the ongoing dialogue about the future of digital currencies. Whether these projections materialize or introduce unexpected twists to the narrative, the cryptocurrency landscape is sure to be dynamic and full of surprises.
Investors are encouraged to exercise caution, conduct thorough research, and consider a diverse range of factors when navigating the crypto market. The coming months will undoubtedly reveal the extent to which these predictions align with market realities and whether 2022 will indeed be a transformative year for Bitcoin and the broader cryptocurrency ecosystem. As the crypto saga continues, buckle up for a potentially thrilling ride in the world of digital assets.
