" A widely-followed analyst known for being the first to apply the stock-to-flow model (S2F) to Bitcoin is sharing his thoughts on the state of the BTC market after the leading cryptocurrency sharply fell from its all-time high.
In a new interview with trader Scott Melker on The Wolf of All Streets, PlanB emphasizes he believes that his stock-to-flow models, which predict that Bitcoin will eventually hit $100,000 or $288,000, are still intact.
“The short answer [is] I think we’re somewhere halfway. I’m very data driven so I don’t make that up, but I read in the data… I look to my stock-to-flow models, the stock-to-flow model (S2F) and the stock-to-flow X model (S2FX), and both models actually show we’re certainly not at the end of the cycle. We still have some room to go until $100,000 on average or $288,000 on average if you follow the stock-to-flow X (S2FX) model.”
According to PlanB, data other than his S2F models are suggesting that the Bitcoin bull market is not yet over. " - Read Full Article
Source: dailyhodl
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