Is BTC is ready to leave its $10,000 comfort zone and begin its much anticipated run to $100,000?

PlanB, the quantitative analyst behind the now famous Bitcoin stock-to-flow (S2F) model, thinks the answer is ‘yes.’ 

In a 14 September tweet, PlanB pointed out several signs suggesting BTC/USD is likely to repeat historical gains, saying: 

“S2F version 1 update. This is the 2019 time series model on historical BTC data only (no gold, silver, diamonds, real estate data used). 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.”

S2F version 1 update. This is the 2019 time series model on historical BTC data only (no gold, silver, diamonds, real estate data used). 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. pic.twitter.com/qIjiXfbmCx

— PlanB (@100trillionUSD) September 14, 2020

As previously reported, in April 2020 PlanB updated the original S2F chart with more details, including other assets, and ‘phases’. The new chart suggests we could see BTC at $288,000 before 2024. And, since May’s BTC halving, the new model has been remarkably accurate, revealing strong similarities with Bitcoin’s behaviour after the 2016 halving. 

Looking ahead at his predicted BTC bull run, PlanB has suggest the necessary funds to drive the price up would come from “silver, gold, countries with negative interest rates [..], countries with predatory governments [..], billionaires and millionaires hedging against quantitative easing (QE), and institutional investors.”

Lending weight to PlanB’s prediction, in late August, an influential senior portfolio manager warned that money velocity had collapsed in the US during the second quart of 2020, as the Federal Reserve engaged in unprecedented money printing in an attempt to combat the COVID-19 lockdown induced economic crisis. 

And, let’s not forget, Frankie MacDonald said “Biiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiitttttttcccccooooooooooiiiiiiiiiiiiiiin!”

AYO.NEWS says:

Over the last few months we’ve seen a lot of speculation about a significant Bitcoin bull run, but the original crypto has seemed somewhat infatuated with the $10K mark.

However, as the realisation that the COVID-19 crisis will likely be here for many months, if not years, and the sheer scale of the global economic catastrophe caused by the misguided lockdowns becoming apparent, it seems more likely that Bitcoin will take its place as a safe haven asset to rival gold. 

Of course, even PlanB’s forecasts pale in comparison to that of incarcerated Silk Road founder, Ross Ulbricht, who has said he thinks Bitcoin could react an eye-watering $333 million. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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