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Bitcoin Stock-to-Flow Model Back on Track, Predicts $500K Per BTC: PlanB

Bitcoin Stock-to-Flow Model Back on Track, Predicts $500K Per BTC: PlanB
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After surging by more than 15% within a week, as well as breaking its March all-time high and charting several news ones, the latest at almost $80,000, bitcoin has become the focus of massive price predictions once again.

While some come from questionable and unknown analysts and sources, one of the original bull cases the stock-to-flow model developed by PlanB indicates a rather impressive price of $500,000 per BTC as the asset seems ready to take off now.

BTC at $500K?

Basing it on scarce commodities like gold and silver, PlanB outlined the original Bitcoin stock-to-flow model years ago, in which the stock is the already existing supply of BTC, while the flow is the annual production. Since the latter is slashed in half every four years after each halving, it should make the cryptocurrency more valuable in time.

In fact, PlanBs model has outlined several quite bullish price predictions in the past. However, many of those failed to come to fruition, such as $100,000 or $135,000 by the end of 2021.

PlanB mentioned the early 2024 break out, which they labeled as fake-out, when BTC shot up to $73,737 after the launch of the US-based ETFs. However, the rally that started now after Trumps victory in the US presidential elections seems a lot more sustainable, according to the model. As such, BTC could surge even higher than the median prediction of $500,000.

Bulls Ready to Buy?

After it became clear that Donald J. Trump would be the next president of the States, crypto investors who stood on the sidelines for the past several months returned with massive purchases. This is evident not only from the ETF inflows but also from the growing number of stablecoins that are flying into exchanges.

Such impressive numbers heading toward trading platforms suggest that investors have begun purchasing or are preparing to do so in the near future, which could send prices even higher.

The post Bitcoin Stock-to-Flow Model Back on Track, Predicts $500K Per BTC: PlanB appeared first on CryptoPotato.

Read more: https://cryptopotato.com/bitcoin-stock-to-flow-model-back-on-track-predicts-500k-per-btc-planb/

Text source: CryptoPotato

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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