Analyst PlanB, famous for his stock-to-flow (S2F) model, makes a comment that answers a question everyone has been wondering after the recent market crash.. Many traders ask, “Is it time to sell?” he asks, while the famous analyst states that the peak has not been seen yet.
Bitcoin interpretation according to S2F model from Analyst PlanB
Latest crypto Several coins saw double-digit drops during the market crash. Bitcoin, the largest cryptocurrency by market value, also fell by around 30 percent. The drop rate in Ethereum was around 40 percent. Even Dogecoin, the favorite of the market these days, has fallen by 45 percent.. In this environment, many traders ask, “Is it time to sell?” he started to ask. Many of them have already made sales, which has created significant selling pressure on many exchanges.
Still, Bitcoin fans did not give up their HODL strategy during these panic sales.. Famous analyst PlanB, known for his contributions to the S2F model, still thinks that the BTC price will exceed the $100,000 level despite the recent drop.
PlanB has this to say about its Stock-to-flow (S2F) model, which supports price predictions:
“It turned out to be more accurate than I could have imagined.. It is following this pattern like a train now and the S2F model also shows that Bitcoin will reach $100,000.. The model predicts Bitcoin price to jump to $288,000 before the next bear market hits.”
Source: PlanB Twitter
Related – The critical reason for the new decline in Bitcoin
Analyst: I think the $60,000 level is not the top
PlanB (@100trillionUSD) has recently he says on the subject:
“I’m saying it for clarity. I think the $60,000 level is not the top. Because I don’t see the kind of trajectory normally seen after ATH (red dots). Actually, I think we’re only a few months away from the bear market (blue dots). And yes, this on-chain view is S2F(X) compatible.”
Just to be clear: I do not think $60K was the top, far from it, because I do not see the kind of transactions that normally happen after an ATH (red dots). In fact, I think we are just a couple of months out of the bear market (blue dots). And yes, this on-chain view fits S2F(X). pic.twitter.com/omLh23MsrX
— PlanB (@100trillionUSD) May 18, 2021
What level is the bear market?
Analyst PlanB, who also talks about the Bitcoin bear market, says:
“The bear market may be possible between $100,000 bottom and $200,000.. As in previous cycles, 80-85 percent retracement can be seen.”
The analyst also states that after the 2025 halving, things will get even more interesting.. According to him, the S2F model predicts the BTC price to be $1 million per coin.. The S2FX model says $5 million.
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