Many analysts, including PlanB, think Bitcoin (BTC) has further growth potential in the current bull market and will not stop at $ 100k.
Analyst who created the stock flow Bitcoin price model, in his posts he shared on wednesday He suggested that the BTC / USD pair will reach new record levels.
PlanB targets $ 288k
Bitcoin investors are wondering where the 2021 bull market could end. Depending on the price indicator used, the end of the bull market may be near or still far away. The stock flow pattern, on the other hand, indicates that the current bull market has just started compared to previous bull cycles.
PlanB summed up, “It’s only 3.5 months since the Bitcoin bull market started.”
“I think Bitcoin will not stop at $ 100k and move towards the average price level of the S2FX model at $ 288k (the record will be even higher).”
The inventory flow (S2F) model created by PlanB predicts that Bitcoin’s average price will be $ 100k in the current half-life cycle, which will be completed in 2024, and the stock flow cross-asset (S2FX) model will be $ 288k.
On the other hand, PlanB suggested that these are only average prices and that Bitcoin’s value could even double these numbers.
Further 6x gains by December?
PlanB said that Bitcoin is currently acting exactly as the stock flow pattern predicted, and is not giving signals of nearing the peak in the cycle.
While the stock flow model was not yet created during Bitcoin’s initial halving cycle, it largely predicted the cryptocurrency’s price action accurately.
PlanB points to December as the date when Bitcoin will reach $ 288k, and thinks the bull market will continue for at least a few more months.