Bitcoin Will Soar Above $100,000 Soon – Plan B

Bitcoin

Analytical bulls mostly dream of the time that Bitcoin will be valued hundreds of thousands of dollars. The anticipation has once again been accentuated by a recent tweet by the originator of the stock-in-flow model, Plan B.

In a recent tweet, the analyst stated that considering historical data,  price of BTC is set to move above the $10,000 region after the brief consolidation of the past weeks. In the tweet, Plan B wrote:

“You see the jump in model value at the halving (white line) and corresponding drop in S2F multiple / model error (white dots). Time to go up.”

Investment Asset

In what he called the “time series model” of 2019 focusing on BTC, he stated that there are clear indications that the digital currency is morphing into an asset. The implication is that investors would consider using it as a hedging instrument.

The stock-in-flow used in the analysis differs slightly from the original Plan B uses in that it incorporates macro factors. In its verdict after analysis, it inferred that BTC would be worth $288,000 prior 2024.

Recognizable Pattern

Interestingly, Plan B is not the only analyst that has seen the pattern, a recent CT release stated that its analyst, Michael Van De Poppe pointed it out in a tweet on September 14, he wrote:

“If you’d like to compare periods and market cycles, the current state of the market is comparable to 2016,”

The stock-in-flow analyst added that this is going to be a slow but steady spike in price with several consolidation periods through 2020 and 2021.

When followers asked the source of the funds that would push the price of BTC beyond $100,000, Plan B made reference to a previous blog post about S2F which pointed to the trend of Bitcoin being used as a hedge against quantitative easing (QE). He stated that countries, billionaires and institutional investors would drive this growth.

A Safe Haven for Investors

It has become obvious that investors are eyeing safe haven. The recent Federal Reserve update of policy raised hopes that gold would react positively. The asset has traded below August all-time-high of $2,079. Currently trading at $1,950, Bloomberg strategist, Mike McGlone said about it:

“Rising gold prices, despite declining managed-money net-longs hedge funds and an advancing dollar, are a sign of the strengthening foundation under the metal,” he summarized on Monday.

He concluded that it is a health bull market…

“Less speculation vs. more organic demand forces are at play for the store of value, which indicates a healthy bull market.”

 

Avatar

Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

Leave a Reply

Your email address will not be published. Required fields are marked *