Tuesday, January 25, 2022

Plan B Says Bitcoin Price Still ‘on Track Towards $100K’ Despite Missing November’s Price Prediction – Market Updates Bitcoin News

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This month, the worth of bitcoin sank under the $60K zone this month after reaching an all-time excessive (ATH) at $69K per unit. The pseudonymous bitcoin analyst and the creator of the bitcoin worth mannequin known as stock-to-flow (S2F), Plan B, known as the final three months of bitcoin costs accurately however the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the current bitcoin worth drop, Plan B nonetheless appears assured bitcoin’s worth is “on track towards $100K.”

Plan B’s Bitcoin Price Prediction for November Misses the Analyst’s $98K Call

The notorious pseudonymous bitcoin analyst Plan B is properly revered amongst bitcoiners and has amassed 1.5 million Twitter followers since October 2017. Plan B is the creator of the favored bitcoin worth mannequin known as stock-to-flow (S2F), which quantifies the commodity’s (bitcoin) shortage after which divides it by yearly issuance (the move). The analyst has achieved properly so far as bitcoin (BTC) worth predictions are involved, however this month one among his calls missed.

It began 4 months in the past when Plan B tweeted about his “worst-case scenario for 2021” forecast in June. Plan B acknowledged that he believed BTC costs could be “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K” within the worst-case situation.

Plan B Says Bitcoin Price Still 'on Track Towards $100K' Despite Missing November's Price Prediction
BTC/USD worth (each day chart) on Bitstamp on November 29, 2021.

So far three out of 4 of his month-to-month worth predictions have come to fruition and Plan B was additionally appropriate when he stated: “$64K was not the top.” The miss this month was the primary time Plan B’s prediction has been off as far as the decision for November had a $98K goal.

Plan B Acknowledges November Price Prediction Missed

Plan B acknowledged that his prediction missed this month as bitcoin (BTC) costs slid below the $60K zone following the current $69K ATH. “Floor model $98K [November] close will probably be a first miss (after nailing Aug, Sep, Oct). S2F model not affected and indeed on track towards $100K,” Plan B burdened to his 1.5 million followers on November 25.

More than 39,000 accounts on Twitter appreciated the tweet and it was shared shut to five,000 occasions. Correctly forecasting three out of 4 predictions is superb and Plan B’s followers are inquisitive about what the worth will likely be for the month of December.

Two days later, the pseudonymous bitcoin analyst tweeted in regards to the crypto asset’s relative power index (RSI). “Bitcoin RSI 66 and 10% below monthly close ATH,” Plan B stated. The following day, Plan B famous that “bitcoin has better risk-adjusted returns than all other assets.”

Plan B Says Bitcoin Price Still 'on Track Towards $100K' Despite Missing November's Price Prediction

The analyst additionally created a ballot, which has 19 hours left, however to this point has acquired 142,490 votes. The ballot asks if $69K was the highest for this halving cycle or if the worth of bitcoin (BTC) will exceed the $69K ATH reached on November 10. Stats from Plan B’s ballot point out that on the time of writing, 78.4% assume BTC’s worth will surpass $69K whereas 21.6% voted that “$69K was the top.”

Tags on this story
$100K, $288k, All-time worth excessive, ATH, Bitcoin, Bitcoin (BTC), Bitcoin Price, BTC, BTC Price, Bull, Bullish, Charts, forecast, Plan B, prediction, pseudo-anonymous analyst, S2F predictions, S2F vs Time Model, Six-Digits, stock-to-flow, Stock-to-Flow vs Time Model, Twitter

What do you consider Plan B lacking the November prediction however accurately forecasting the final three months prior? Do you assume bitcoin is headed for $100K or do you assume $69K was the highest? Let us know what you consider this topic within the feedback part under.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter,

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