A well-known analyst who is famous for applying the stock-to-flow model (S2F) to Bitcoin has shared his price prediction for BTC in the current month. In a recent conversation with trader Scott Melker, the pseudonymous analyst PlanB suggested that Bitcoin could potentially reach a price as high as $150,000 by the end of December, marking a significant increase of over 53% from its current value.
PlanB expressed his astonishment at the recurring pattern in the cryptocurrency market, stating, “It’s almost scary that it is happening again. It seems programmed: three years of boring bear markets and then one year of FOMO (fear of missing out) and face-melting bull action. And it’s like that in all the past cycles. So if history is any guide, we’re going to see that again. And I certainly think we’re going to see that again. So indeed $100,000 if not $150,000, somewhere between that for this month, December.”
Furthermore, drawing from historical data, PlanB suggested that Bitcoin may continue to experience a series of rallies leading to new all-time highs until at least June. He explained, “Again, if history is any guide, the returns of Bitcoin are not normally distributed. So it’s not like we get an all-time high and then a bear market and an all-time high and some middle ground. No, it’s all-time high after all-time high after all-time high. It’s very clustered. So maybe six to 12 months of real bull market action.”
As of the time of writing, Bitcoin is currently trading at $97,677, showing a 2% decrease in the last 24 hours. Despite this slight dip, PlanB remains optimistic about the potential for Bitcoin to reach new heights in the coming months.
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In conclusion, with Bitcoin’s price trajectory pointing towards a potential surge to $150,000 by the end of December, investors and enthusiasts are eagerly anticipating the next phase of bullish momentum in the cryptocurrency market.