Quantitative analyst PlanB estimates that Bitcoin will hit a six-figure price by the end of the year despite the recent collapse in the cryptocurrency markets.
Plan B recount its 833,000 Twitter followers that BTC will close at $ 100,000 or more in December, according to its stock-to-flow (SF2) model.
However, based on a logarithmic regression or the time model, the quantitative analyst claims that the flagship cryptocurrency could drop to $ 30,000.
“So what will be the Bitcoin closing price in December?”
– S2F model says $ 100,000
– The temporal model (logarithmic regression) says $ 30,000
The next few months will be interesting. My money is on S2F, of course.
In the case of Bitcoin, the stock-to-flow model attempts to predict the price of the flagship cryptocurrency by measuring the amount of new supply entering the market per year versus the amount of already existing supply.
The time model or logarithmic regression, on the other hand, aims to predict the price of Bitcoin on the assumption that growth will initially accelerate quickly before slowing down over time.
Bitcoin is trading at around $ 43,600 at the time of writing, according to CoinGecko.
PlanB too said, in response to reactions to his prediction, that his stock-flow model will be invalidated if Bitcoin does not reach a closing price of $ 100,000 in December.
“The price must increase> 100k (to average 100k) or s2f is dead.”
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