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September 23, 2020
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Bitcoin

The BTC price will rise this year, PlanB suggests Blocksats

The latest update of the PlanuB pricing model for Bitcoin shows that this year we may have to break the course. The BTC price will surprise us again?

BTC price and expected breakout

PlanB today, i.e. on July 1, published an update on its BTC pricing model on Twitter. He showed that Bitcoin behaves exactly as its model suggests.

His model uses colored dots to analyze Bitcoin price action. Shows the course jumps by using red dots “Order of magnitude.” It means bubbles.

According to this model, the course should start before the end of 2020. From that time until the next halving, which is expected to take place in 4 years, in 2024, the course is to delight the bulls. According to it, we are to see the price as high as USD 288,000 for 1 BTC at the time. PlanB also takes into account the potential for a much higher price increase.

The essence of the model

What does the model consist of?

“The original BTC S2F model is a formula based on monthly S2F data and price data. Because this data is indexed in time order, it is a time series model. This model has activated quantitative analysts around the world. Many people have confirmed the inconspicuous relationship between S2F BTC and its price. “

– he wrote in the article “Bitcoin Stock-to-Flow Cross Asset Model” PlanB.

“The S2FX model estimates the market value of the next stage / BTC cluster (S2F BTC will be 56 in 2020-2024) at 5.5 bil. USD. This translates into the BTC price (taking into account 19 million BTC in 2020-2024) in the amount of 288 thousand. USD.

By consolidating known facts from the original S2F study, the S2FX model offers a new way of thinking about BTC moving to the fifth phase. “

He added at the end of the text.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: course Bitcoin and cryptocurrency course on Bitcoin.pl. A place where you can buy Bitcoin and other kryptowaluty, include cryptocurrency exchange BitBay.net. If you don’t have a BitBay account yet, this article will show you how to create one efficiently: LINK.

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