Bitcoin (BTC) has hit a record high, and the asset last changed hands in the $67,000 range.
In the last hour of November 8th UTC time, BTC pushed up the unknown price. As price movements retested the previous high of approximately $67,000 on October 20th, the bulls firmly controlled the market.
The milestone appeared on Bitcoin’s historic date, analysts Notice On November 8, 2010, the market value of Bitcoin exceeded $1 million for the first time.
Cryptocurrency Twitter seems to be pleased with the record high, and many bystanders seem to believe that the high price has restored their confidence in cryptocurrencies. Inventory to flow (S2F) The model comes from the pseudonymous analyst “PlanB”-due to its Creepy accuracy Predict the monthly closing price of BTC.
The model measures the outstanding reserves of a given asset divided by its annual productivity.Plan B first Publish They established an S2F model in March 2019 to quantify, measure and predict the scarcity of Bitcoin, and then estimate that Bitcoin will reach a market value of $1 trillion after the halving in May 2020.
Use S2F, PlanB Expected Bitcoin’s closing price in August was close to US$47,000, and at the end of September it was close to US$43,000. The accuracy rate was amazing. At the same time, it overestimated the October closing price by only 3%.
Looking ahead, S2F indicates that Bitcoin will close at more than US$98,000 in November and reach US$135,000 by the end of the year. Many bettors predict based on PlanB’s market prospects that Bitcoin will be traded in a six-digit price range before 2022. .
PlanB also created Stock-to-Flow Cross-Asset (S2FX) The model was launched in April 2020. The model aims to predict how the BTC market will respond to the dynamic changes of S2F based on the historical performance of gold and silver.
PlanB uses the S2FX model to speculate that in this bull market cycle, the trading price of Bitcoin next year may be $288,000. Analysts said that the market needs to see “real fireworks in 2022” to achieve this prediction.
As you know, the S2F model predicts an average price of $100,000 during this halving period (and according to the floor model, we reached $100,000 this year). But the S2FX model predicts that the average value of this period is 288,000 USD (for this we need to have some real fireworks in 2022).Let’s see where the second leg of the bull market will take us pic.twitter.com/ttiNT5yMKe
— PlanB (@100trillionUSD) November 8, 2021
Recent twitter polling PlanB found that out of 242,000 respondents, 39.8% believed that Bitcoin would exceed 100,000 USD By Christmas, 31.4% of people expect the transaction price of BTC to be US$288,000, and 23.8% of people expect that the market will not be able to break through six figures by December 25.