The creator of the Stock-to-Flow (S2F) model, cryptanalyst Plan B, believes that despite the bearish settings, the price of BTC maygrow 5 times. His model determines the future price of bitcoin based on its circulating supply of new coins mined each year.
An investor under the pseudonym Plan B, with more thanthan twenty years of experience in the field of quantitative finance, became popular after the introduction of the model in 2019. S2F is based on the idea of Bitcoin supply scarcity, which decreases by 50% every four years as a result of the so-called halving.
In a recent tweet, Plan B wrote that forimprovements to the 2019 S2F bitcoin model, he included the new data and displayed it on the chart as a white dotted line. As a result, Plan B set a bullish target for Bitcoin in the $100,000 to $1M range, adding that “BTC will rise at least 5x.”
Bitcoin stock-to-flow model (S2F)
Despite bearish market conditions and forecasts,Using Elliott Wave Theory, analyst and trader alias Crypto Prof set a $68,000 price target for Bitcoin. In his opinion, BTC has a good chance of returning to Wave B ($68,000) in the next few months.
Crypto Prof also notes that bitcoin bottoming out is an indicator of an upcoming asset rally.
Bitcoin price chart against USD
The falling widening wedge is a bullish patternon the chart, which is considered a reversal and is formed by two divergent bullish lines. A falling widening wedge is confirmed if it forms good swings between the two rising lines.
Recently, Crypto Prof found such a wedge on the Bitcoin price chart.
Bitcoin price chart against USD for 2013-2022
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