The analyst, which nailed the Bitcoin closing course in August and September, predicts BTC at 63,000 USD in October
The analyst, which nailed the Bitcoin closing course in August and September, predicts BTC at 63,000 USD in October
The price of Bitcoin closed at a lower level in September than in August. While this may sound like a negative event for BTC bulls, the popular cryptocurrency analyst Planb has already seen this months ago and predicted the exact closing course.
He also offered cheaper prices for the end of October, November and December.
Bitcoin closes October at Near Ath?
BTC went through a roller coaster ride in the last few months after the maximum level, which she reached with $ 65,000 in mid-April. The subsequent retracement, which was initially caused by Elon Musk and later by the latest Chinese ban in the crypto industry, drove the asset hard into the south. In the following months, Bitcoin had lost more than 50% of its value and had fallen under $ 30,000 on numerous occasions.
The latest example of this kind came at the end of July when BTC sank up to $ 29,000. Since then, however, the sheet has turned quite a bit.
Planb, The popular crypto analyst behind the stock-to-flow model, Seen early. Already in June he published a graphic that shows that his "worst-case scenario" for this year predicted this "weakness" in July.
later he imagined that the BTC price would be over $ 47,000 at the end of August, which was actually the case. The price line for September was a bit lower-at around $ 43,000, which also occurred.
In view of its accuracy, it is worth noting that its forecast for the end of the October is $ 63,000. If Bitcoin is to reach this level, the asset would only be just below its all -time high (USD 65,000). For November he sees BTC at $ 98,000, while the price for December would be $ 135,000.to say it clearly: "Worst Case" / Floor model is not, I repeat, not based on stock to flow (s2f), it is based on price and on-chain data (as I wrote in tweet from June 20th). So, great that the August> 47k has closed and September is now 43k, but it says nothing about S2F. S2F now says ~ 100k. https://t.co/tj6sswszkr
- Planb (@100 trillions USD) 28. September 2021
nothing to do with S2F
planb is perhaps most famous in the cryptocurrency community as the creator of the stock-to-flow model and its variations, which also see BTC go to a six-digit price area.
The analyst made sure to distinguish the difference between the S2F forecast and his worst-case scenario mentioned above.
Nevertheless, Planb has updated that the closing price of $ 43,834 in September also works for the stock-to-flow model "How on the laces".
September $ 43.834 .. as on the lacing pic.twitter.com/ncznajjjj2fy
-Planb (@100 trillions USD) 1. October 2021
Although BTC is more than half of the coveted $ 100,000 mark away, the number of analysts and prominent names that imagine such an increase in the coming months is growing. The latest with such a number include the co-founder of NorthStar and Badcharts, the CEO of Chainalysis , Adam Back and Bloombergs Mike McGlone.
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