The popular Twitter account and creator of the bitcoin stock-to-flow (S2F) price model explained that “$288K [is] Still in play.” Meanwhile, data from exchange Deribit shows there are 425 bitcoin call options with a strike price of $200K, set for December 31, 2021.
Plan B says: ‘$288K still running’
Bitcoin on June 12, 2021 (B T cThe popular Twitter account Plan B (@100trillionusd) told its 553,000 followers that the six-figure bitcoin price is still intact. Plan B is a pseudonym and published stock-to-flow (S2F) value model in March 2019. They also updated the S2F model to another version called the stock-to-flow cross-asset (S2FX) model.
Twelve Days Ago, Bitcoin.com News Reported How Plan B said its S2FX model was “intact”. Plan B has always shown faith in their models, but when they last tweeted about the S2FX being intact, they called for a vote on Twitter. The pseudonym asked his followers whether he thinks the S2F model will break or it will turn out to be a great buy signal. When the survey completed more than 53 percent of the 31,824 votes polled, it said it was a “buying signal”.
Plan B’s statement on Saturday still shows confidence in the model and even six-figure price targets. “$288K Still in the Game,” Plan B said on Twitter. “I would be really surprised if bitcoin does not touch the black S2FX model line at this stage. Despite the current volatility, the yellow green and blue dots will be (much) higher than the red orange dots,” said the analyst.
A Twitter account responded to Plan B’s tweet on Saturday and Asked: “What gives this confidence given the large downside deviation from the model at the moment? Is this on-chain analytics?”
Plan B responded and noted that things look the same as in 2013 and 2017. Plan B notes:
The divergence is not much different from 2013 (S2F~10) or 2017 (S2F~25), just the normal inertia after the stop.
With a strike price of $200K for Deribit call options December 31, Bloomberg strategist McGlone sees an ace in bitcoin’s sleeve
Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone, also talked about the scarcity of bitcoin and touched on the next halving on Saturday.
McGlone added: “Bitcoin $100,000 has a bullish rise up its sleeve: supply dwindling – after bitcoin’s supply cut this year, the price is more likely to appreciate if the previous pattern catches on,” tweeted, also sharing a chart of diminishing B T c supply. The dwindling supply of bitcoin is the exact opposite of the $8 trillion recorded at the Federal Reserve. balance sheet For the first time in history on 10 June 2021.
Meanwhile, some skeptics disagree with the usual Plan B or people like Mike McGlone as one person responding to McGlone’s optimistic view. “Don’t Marry Business, It’s in a Bear Market,” Person replied To McGlone on Twitter.
What do you think about the “still running” six digit prices for bitcoin as per plan B or 400+ contracts betting that the price will be $200K by the end of the year? Let us know what you think about this topic in the comment section below.
image credit: Shutterstock, Pixabay, WikiCommons, Plan B, Twitter, Mike McGlone, Bloomberg,
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell any products, services, or companies, or a recommendation or endorsement of any products, services or companies. bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused or in connection with the use or reliance on any content, goods or services mentioned in this article.