the new all-time high renews hopes for PlanB’s $ 98,000 by the end of November

Tonight, following a quick retest from its previous high of $ 67,000 in late October, BTC subsequently pushed into uncharted prices, with the bulls appearing firmly in control.

BTC/USD: TradingView

This milestone comes in one

for Bitcoin: On November 8, 2010, Bitcoin’s market cap exceeded $ 1 million for the first time.

Crypto Twitter is euphoric at the new all-time high, denoting renewed hope in the model Stock-to-Flow (S2F), proposed by the pseudonymous analyst “PlanB”, which has recently gained further popularity thanks to its almost disturbing accuracy in forecasting monthly closing prices for BTC.

The model compares the supply of an asset and its annual production rate. PlanB first published the S2F model in March 2019, in an attempt to quantify, measure and predict Bitcoin scarcity, then estimating that BTC would reach a trillion dollar market cap following the May 2020 halving. .

Using the S2F, PlanB has

the August monthly close above $ 47,000, close to $ 43,000 at the end of September, overstating the October closing price by 3%.

Projecting ourselves forward, the model suggests that Bitcoin will close above $ 98,000 in November, signing $ 135,000 by the end of the year.

Related: Bitcoin HODLers Won’t Sell Up To $ 300,000-500,000, Says Pete Rizzo

In April 2020, PlanB subsequently introduced the model Stock-to-Flow Cross-Asset (S2FX), adapting BTC cycles and Stock-to-Flow to the dynamics of other markets, including gold, silver and real estate.

Using the S2FX model, PlanB assumes a value per BTC of $ 288,000 within the next year, affirming that, in order for it to be realized, it will be necessary “real fireworks in the markets of 2022:

“As you know the S2F model predicts an average of $ 100,000 for this halving cycle (expected by the end of the year, according to the floor model). The S2FX model instead predicts an average of $ 288,000 for this cycle (we need real fireworks in 2022). Let’s see where this second part of the bull market will take us. “

A recent

on PlanB’s Twitter found that, of 242,000 respondents, 39.8% believe Bitcoin will exceed $ 100,000 by Christmas, 31.4% expect $ 288,000, and 23.8% predict that markets will not will manage to exceed six figures by the holiday season.

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