PlanB’s Bulls Eye on Bitcoin
In the vibrant arena of cryptocurrency discussions, one name often shines brighter than the rest: PlanB. This famous price analyst has thrown his hat into the ring, claiming there are “more than one hundred-plus events” backing his bold prediction that Bitcoin will soar past $100,000 next year. While it sounds more like a daring bet at a poker table, he insists that how long it takes to get there is, in his own words, “irrelevant.” You don’t say, PlanB!
The Mystery of Co-integration
One of the core tenets of PlanB’s argument hinges on the mystical concept of co-integration. What does this mean? Well, it’s essentially a fancy way to say that prices and stock-to-flow ratios have been tight pals since Bitcoin hit the scene. If you’re not familiar with stock-to-flow (S2F), it’s a model that looks at the relationship between scarcity and value – and PlanB believes that this model will keep Bitcoin flying high.
The Halving Effect
Another interesting aspect is the impact of Bitcoin halving scheduled for May. Similar events in 2012 and 2016 led to sizeable price hikes post-halving, and PlanB is all in for another round of this merry-go-round. It’s like waiting for your favorite rollercoaster, but this time, you might want to buckle up your wallets too! Are we in for a turbulence of profits?
Trading or Waiting?
Reacting to the ever-watchful Twitter commentary, PlanB challenged skeptics by emphasizing that you can’t draw definitive conclusions from merely two past halvings. While one user suggested that the 2016 climb took longer, PlanB retorted, “IMO that is not the right question to ask.” What’s his beef? It all goes back to co-integration, which suggests that Bitcoin will likely coast over the six-figure mark by December 2021.
Experts Weigh In
In the world of crypto, not everyone sees things through PlanB’s rose-tinted glasses. Take Tone Vays, for instance. This seasoned trader recently found himself sensing a pre-halving pump on the horizon. After all, Bitcoin’s price zenith has already teased its way to the $9,000 range again, with a notable uptick of 4.3% over 24 hours. Sounds like we’re cooking up something nice!
The Road Ahead
What’s on the plate for Bitcoin in the upcoming months? The average stock-to-flow price currently sits at around $8,650. With Bitcoin surpassing this bar and analysts tapping into a bulging sense of optimism, the festive crypto season may just extend through the end of the year. As the industry evolves, investors are wise to consider both bullish and bearish sentiments before making the leap into the digital currency fray.
