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Santa Is Bringing Bitcoin (BTC) To $100K for Christmas

Santa Is Bringing Bitcoin (BTC) To $100K for Christmas
  • Bitcoin’s price will hit $100,000 by Christmas.
  • Crypto analyst — PlanB made the forecast based on Bitcoin’s S2F model.
  • Many others believe that Bitcoin will certainly hit $100,000 by the end of 2021.

Crypto analyst — PlanB (@100trillionUSD) shares a tweet about the price of Bitcoin’s possible trajectory by the end of this year. To be specific, PlanB believes that the price of Bitcoin will go up to $100,000 by the time Christmas comes around.

In detail, the tweet sports a chart that displays Bitcoin’s (BTC) price range since its inception. Clearly, we can see how Bitcoin has been on the rise so far. Using this Stock to Flow (S2F) model, PlanB stresses the possibility for Bitcoin’s price to rise much higher.

Specifically, the tweet highlights that the baseline S2F forecast says that $100,000 for Bitcoin’s price by Christmas is very likely. To be more precise, it says $100,000 is the average during the halving period of 2020-2024.

Meanwhile, the on-chain non-S2F indicator does not show any sign of a top as of right now. This works out well with the S2F forecast, says PlanB.

The Stock to Flow model is a reliable way to measure the abundance of any particular resource. Usually used to measure natural resources, it also comes in handy for measuring the value of cryptocurrencies.

PlanB hosts a pretty reliable platform to analyze the price of Bitcoin (BTC). The known analyst has over 700,000 followers on Twitter. While PlanB clearly states that their words should be taken as information, not advice, most crypto traders and analysts flock to hear their thoughts.

At the time of writing, Bitcoin is in the middle of a rally. Over the past couple of weeks, BTC’s price has been surging quite nicely. Presently, the price of Bitcoin is $51.734.43. According to many, like Nexo’s co-founder and other high-profile analysts, the price of Bitcoin will hit $100,000 by the end of this year.

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An eager wordsmith who conveys her thoughts and fascinations through words and storytelling. Besides lurking on new and emerging technology forums, she’s always updated when it comes to blockchain.