Bitcoin On Track to 0K With a Floor of K, Models Suggest
With Bitcoin prices confidently trading sideways in the second week of September in a range of around $48,000, anticipation for another level up is rising.
Creator of the bitcoin price model called stock-to-flow (S2F), the pseudonymous Plan B recently had a small poll among his Twitter followers where a majority believes Bitcoin will reach the $100K mark by Christmas this year.
Do you think #bitcoin will reach $500K, $288K (S2FX model), $100K (S2F model), or will BTC stay below $100K .. by Christmas 2021?
— PlanB (@100trillionUSD) September 11, 2021
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With the poll results clearly showing a large faith in the top cryptocurrency, it does remain perhaps a somewhat biased survey and more reliable would be the actual price models.
Let’s skip September and go straight to October
https://t.co/tj6SSwSzKR
— PlanB (@100trillionUSD) September 13, 2021
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Building on Plan B’s S2F model, that predicts a “worst-case scenario” of an over $100K price towards the end of the year to as high as $288K, is popular on-chain analyst Will Clemente’s latest model. The lead insights analyst at Blockware Solutions tweeted about a price model he calls the “Illiquid Supply Floor.” According to the youngster, Bitcoin will not be falling below $39,000 any longer. Entrepreneur and prominent member of the bitcoin community, Anthony Pompliano, congratulated Clemente with his clarity. Clemente is a regular guest on the “Pomp’s” podcast.
This is a banger. Nice work
— Pomp
(@APompliano) September 16, 2021
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At time of writing, Bitcoin is moving hands at $47,981.05 according to CoinMarketCap.
The post Bitcoin On Track to $100K With a Floor of $39K, Models Suggest appeared first on iGaming.
Source: igaming
