The pseudonymous creator of the popular stock-to-flow (S2F) Bitcoin pricing model, Plan B, published its predictions for the “worst-case scenario for 2021” on social media on Sunday. The analyst says that there is also a “more fundamental reason” why Bitcoin prices fell in June and that July could also be “weak”.
Best case scenario: USD 450,000 Worst case scenario: USD 135,000
Five months ago, Bitcoin (BTC) prices went parabolic and the value of the leading crypto asset apparently followed the well-known stock-to-flow (S2F) model. Back then, the S2F creator said, “Bitcoin stock-to-flow model [is] on the right track … like clockwork. ”Bitcoin’s price skyrocketed to over $ 64,000 each, but has since lost more than half that value.
In late April, Plan B noted that the downturn was a “medium slump” and stressed that “nothing is going up in a straight line”. Last Saturday, Plan B continued to discuss the infamous death cross pattern on the BTC / USD chart and remained bullish.
Then on Sunday, Plan B came in To update on his “worst case scenario for 2021”.
“Bitcoin is under $ 34,000, sparked by Elon Musk’s energy FUD and China’s mining crackdown,” tweeted Plan B. “There’s also a more fundamental reason we’re seeing weakness in June and possibly July. My worst case scenario for 2021 (price / on chain based): Aug> 47K, Sep> 43K, Oct> 63K, Nov> 98K, Dec> 135K, ”added the analyst.
Plan B, of course ensured that people read his tweet carefully when people asked if they should disregard his model. “Please read my tweet more carefully,” replied Plan B. “I said this is a worst case scenario, not a base case, let alone the best case. I’m still on the S2FX lane for my base case. In several interviews, I explained my personal (non-) sales strategy, ”he added. Besides, someone asked Plan B: “What is the more basic reason?”
“Great question. I [intend] publish this year, ”said the analyst answered. Additionally, the popular bitcoiner by the name of “Parabolic Trav” said it likes a bearish Plan B tweet and said “Bullish”. Plan B also responded to Parabolic Trav’s testimony, saying:
Wait until you [see] My base case and best case scenarios! OK, a hint: in the best case scenario, $ 450,000 in December.
Plan B: “Bitcoin Distribution Looks Much Healthier Now”
Plan B is a popular analyst and has more than 570,000 Twitter followers. The stock-to-flow pricing model has also grown in popularity over the past 12 months and is widely used in technical analysis. Plan B has received a lot more criticism lately as the price of Bitcoin has come down. The sell-off, Plan B said this weekend, resulted in better bitcoin distribution.
“60% of the bitcoins sold from May to June were bought from March to April and sold at a loss,” Plan B wrote. “40% used to be bought and sold at a profit. From a total of 18.7 million bitcoins, ~ 2.5 million bitcoins are bought at
What do you think of the worst-case scenarios of Plan B for 2021? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Plan B, Twitter, Mike McGlone, Bloomberg,
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