Read More About Bitcoin Price Prediction December 2021

According to its author, a price prediction algorithm that predicts bitcoin will touch six digits before the start of 2022 is “still in play.”Read More About Bitcoin Price Prediction December 2021

Pseudonymous The estimate was first issued by Dutch analyst PlanB in June when the price of Bitcoin was below $34,000, and it has stayed within a few percent of each monthly target since then.

Bitcoin Price Prediction 2021

Read More About Bitcoin Price Prediction December 2021

PlanB predicted that the cryptocurrency would reach $47,000 by the end of August and then drop to $43,000 by the end of September.

Bitcoin’s closing price of $61,318 in October was slightly below the model’s prediction of $63,000, but when BTC set a new all-time high above $68,000 last week, there is renewed hope for the November objective of $98,000.

Bitcoin’s recent price gain has increased its value by more than 300 percent since this time last year, but it still has to increase by another 50% to meet PlanB’s November prediction.

Bitcoin price (USD) Nov 2020-Nov 2021
PlanB’s popularity has surged in lockstep with the price of bitcoin in 2021, collecting over a million Twitter followers after his Stock-to-Flow (S2F) model proven “amazingly accurate.”

To forecast bitcoin’s long-term market movements, the S2F model divides its supply (stock) by its output (flow). Because of the cryptocurrency’s inherent scarcity – only 21 million coins will ever exist – and falling supply, its value should theoretically rise over time.Read More About Bitcoin Price Prediction December 2021

His most recent prediction success comes from his “worst-case scenario” for bitcoin, which forecasts a price of $135,000 by December.

PlanB’s S2F model’s simplicity makes it vulnerable to “black swan events,” such as a large economy imposing a bitcoin prohibition or huge geopolitical news affecting traditional financial markets.

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