An analysis of a mathematical model has determined that the price floor for Bitcoin is approximately $40,000. However, estimates indicate that Bitcoin will also reach a new all-time high before the end of the year!
Bitcoin has been on an upward trend in recent years, and this is expected to continue. This comes after a significant decline. Prices for digital coins are currently fluctuating between $46.5K and $48.5K per coin. Despite this, Bitcoin proponents continue to believe that the cryptocurrency will see a major second leg this year, and a recent study published by Plan B, which received 123,410 votes, indicates that individuals anticipate the cryptocurrency will hit $100K by Christmas 2021. In addition, a pricing model developed by Would Clemente and dubbed the “Illiquid Supply Floor” predicts that Bitcoin prices will never go below $39,500 again in their lifetime.
Bitcoin has reached a new high point.
Stock-to-flow pricing model for Bitcoin was developed by Plan B, a pseudo-anonymous Twitter account (@100trillionusd) and the author of the stock-to-flow pricing model for Bitcoin (S2F). When it comes to the cryptocurrency world, this is a very important account to have. In addition, he tweets quite a bit about the Netherlands and the country’s response to the corona pandemic, and he does not always express himself in a good manner.
The cryptocurrency exchange Plan B has suggested in earlier tweets that Bitcoin (BTC) prices may be sluggish in September, and the company tweeted this week, “Let’s bypass September and head directly to October.” Later in June, he forecasted that Bitcoin values will follow this trajectory: 47,43 and 135 thousand dollars in August and September, 63 thousand dollars in October, and 98 thousand dollars in November. So far, it appears to be a good fit. Forecasts, on the other hand, remain predictions.
Plan B decided to conduct a Twitter poll last week, on September 11, in the same manner as it has done multiple times in the past. Due to Plan B’s 799.1K Twitter followers, it is likely that their survey will be shared widely on the social media platform. The poll seeks to answer the following question:
By Christmas 2021, do you think Bitcoin will reach $500k, $288k (S2FX model), $100k (S2F model), or will it remain below $100k…?
A total of about 125,000 ballots were cast. According to 45.7 percent, it will hit $100,000. Approximately 32.7 percent of those who participated in the poll believe that Bitcoin would remain below $100K by Christmas 2021. 15.3 percent of those polled believe $288K is a possibility. And 6.3 percent anticipate that the price of a Bitcoin will reach $500K by the end of the year. For the most part, the coin’s value is determined by ‘faith and feeling.” According to the findings of this study, this is the case.