A PlanB analyst, who predicted several important Bitcoin market movements, made a new statement. PlanB is confident that Bitcoin will return to $ 10K before the end of this year.
PlanB was the first to apply the stock-to-flow model to the crypto market, that is, the ratio of accumulated asset to those produced over the year. Stock-to-flow has been actively used in the precious metals market. But it was PlanB who applied the method to cryptocurrencies and succeeded. In his opinion, there can be no accident: the higher the stock-to-flow, the higher the price of the asset. Now PlanB boldly declared:
“Call me crazy, but it wouldn’t surprise me if BTC closes 2019 at $ 10k +.”
And he confirms this with his beautiful chart.
Until now, the chart accurately reflects the historical quotes of bitcoin. It is noteworthy that the price of a million dollars for bitcoin is clear on the horizon of 2025. A jump from $ 10 K to a price of $ 100 K is expected only at the end of 2020.
Indirectly, this forecast is confirmed by other analysts. In particular, Tone Vays in an exclusive interview with Coinstelegram said that 2020 will be boring and flat in the $ 10 K area.
To hodl? Or not to hodl? That’s the question. But maybe it’s time to enter bitcoin. This step is recommended by PlanB.