As per both the stock-to-flow method and the logarithmic trend, BTC will reach $100,000 by the end of next year, as per the PlanB, the person underlying them. Notwithstanding the S2F's previous losses and the analyst's "worst-case scenario," this is the reality.
PlanB, the anonymous Twitter username behind the famous stock-to-flow model and its variants, has made another relatively optimistic forecast about the value direction of Bitcoin.
The expert predicted that the top crypto would achieve a six-digit value by the end of 2023 using both the S2F and the logarithmic regression.
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PlanB later revealed that he evaluated bitcoin to other stocks such as gold, which has a stock-to-flow ratio of roughly 60 and a market cap of $10 trillion, as well as property investment. The latter's S2F ratio is 100, and its market valuation is ten times gold.
"It would truly amaze me if btc had a lesser market price than gold after the next splitting when BTC S2F 100+," he added. The next reduction is expected to happen in early 2024.
For crypto investors, the waiting period proceeds as Bitcoin (BTC) remains stuck beneath the barrier at $43,000, seeking a spark of strength that can support a rise back to the $50,000 region.
Bitcoin's value has moved in a region around $41,500 and $43,000 in the last several days, according to figures from Cointelegraph Markets Pro and TradingView, and with conflicts involving Ukraine and Russia growing, several investors are less than bullish on Bitcoin's brief chances.
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Perma-bear, a renowned cryptocurrency Peter Schiff weighed in on Bitcoin's recent troubles by sharing the graphic below, which shows a dual peak on BTC as a hint that the crypto asset is on its way to $0.
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"Picture how horrible this graph will appear after Bitcoin falls beneath $30,000," Schiff said, before adding, "If this dual peak finalizes, the actual bottom is $0!"
According to Schiff,
"While a decline to $10,000 appears to be a certain conclusion, there's no possibility that level will remain as a stable bottom."
Crypto expert and anonymous Twitter user TechDev presented a more in-depth look at the present graph formation, posting the graph below, separating the "year-long BTC range" into two-week-long sub-ranges.
